Wells Fargo & Company Cuts Kimco Realty (NYSE:KIM) Price Target to $24.00

Kimco Realty (NYSE:KIM) had its target price trimmed by Wells Fargo & Company from $26.00 to $24.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on KIM. Scotiabank raised their target price on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. UBS Group increased their target price on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Evercore ISI dropped their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Mizuho raised their target price on shares of Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. downgraded Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research report on Friday, December 20th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and an average target price of $24.97.

Kimco Realty Trading Down 1.0 %

Kimco Realty stock opened at $22.46 on Wednesday. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 2.90 and a beta of 1.51. The business’s fifty day simple moving average is $23.55 and its two-hundred day simple moving average is $23.30. Kimco Realty has a 12 month low of $17.57 and a 12 month high of $25.83. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The business had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. Kimco Realty’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. As a group, equities analysts predict that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in Kimco Realty by 3.4% during the 3rd quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock valued at $340,000 after purchasing an additional 482 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in Kimco Realty by 2.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 23,380 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 565 shares during the period. CWM LLC grew its stake in Kimco Realty by 4.7% in the 3rd quarter. CWM LLC now owns 13,323 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 595 shares during the period. Savant Capital LLC lifted its stake in Kimco Realty by 4.4% in the 4th quarter. Savant Capital LLC now owns 14,541 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 611 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of Kimco Realty by 2.0% in the second quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust’s stock valued at $724,000 after acquiring an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

About Kimco Realty

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.