ValuEngine lowered shares of Kimco Realty (NYSE:KIM) from a buy rating to a hold rating in a research note released on Sunday morning.
KIM has been the topic of a number of other reports. JPMorgan Chase & Co. upgraded Kimco Realty from a neutral rating to an overweight rating and set a $24.00 target price on the stock in a report on Tuesday, September 26th. Boenning Scattergood reiterated a hold rating on shares of Kimco Realty in a report on Friday, October 27th. Mizuho set a $20.00 target price on Kimco Realty and gave the stock a hold rating in a report on Monday, December 18th. Robert W. Baird cut Kimco Realty from an outperform rating to a neutral rating and cut their target price for the stock from $23.00 to $20.00 in a report on Monday, November 27th. Finally, Stifel Nicolaus initiated coverage on Kimco Realty in a report on Thursday, November 30th. They issued a hold rating and a $19.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Kimco Realty presently has a consensus rating of Hold and a consensus target price of $22.75.
Kimco Realty (NYSE:KIM) traded down $0.12 during trading on Friday, hitting $18.00. The company’s stock had a trading volume of 6,540,800 shares, compared to its average volume of 5,329,500. The company has a market cap of $7,540.00, a PE ratio of 26.47, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66. Kimco Realty has a 52-week low of $17.02 and a 52-week high of $26.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.08 and a quick ratio of 0.08.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). The business had revenue of $290.92 million for the quarter, compared to the consensus estimate of $295.34 million. Kimco Realty had a return on equity of 7.73% and a net margin of 35.51%. Kimco Realty’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. sell-side analysts expect that Kimco Realty will post 1.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 29th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 6.22%. Kimco Realty’s dividend payout ratio (DPR) is 164.71%.
In related news, insider Milton Cooper acquired 50,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were acquired at an average cost of $19.20 per share, for a total transaction of $960,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.90% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Penserra Capital Management LLC bought a new position in Kimco Realty during the 3rd quarter valued at $105,000. Carnegie Capital Asset Management LLC purchased a new stake in shares of Kimco Realty during the 2nd quarter valued at $204,000. Pacer Advisors Inc. increased its position in shares of Kimco Realty by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 790 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Kimco Realty during the 3rd quarter valued at $201,000. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of Kimco Realty during the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 91.51% of the company’s stock.
About Kimco Realty
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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