Kimco Realty (NYSE:KIM) Price Target Lowered to $22.00 at Scotiabank

Kimco Realty (NYSE:KIM) had its price target lowered by equities research analysts at Scotiabank from $23.00 to $22.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 7.19% from the company’s current price.

Other analysts also recently issued reports about the company. LADENBURG THALM/SH SH initiated coverage on Kimco Realty in a report on Tuesday, September 9th. They issued a “buy” rating and a $27.00 price objective for the company. Piper Sandler reduced their price target on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company began coverage on Kimco Realty in a research note on Tuesday, October 21st. They issued an “equal weight” rating and a $23.00 price target for the company. Barclays lifted their price objective on Kimco Realty from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Finally, Wall Street Zen downgraded shares of Kimco Realty from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.27.

Kimco Realty Price Performance

KIM traded down $0.07 on Thursday, reaching $20.53. The stock had a trading volume of 935,433 shares, compared to its average volume of 4,678,067. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. Kimco Realty has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The firm has a 50-day moving average of $21.61 and a 200-day moving average of $21.40.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business had revenue of $535.86 million during the quarter, compared to analyst estimates of $522.31 million. During the same quarter last year, the business earned $0.43 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. As a group, sell-side analysts anticipate that Kimco Realty will post 1.71 EPS for the current year.

Insider Buying and Selling

In other Kimco Realty news, Director Mary Hogan Preusse sold 23,100 shares of Kimco Realty stock in a transaction on Monday, September 29th. The shares were sold at an average price of $21.66, for a total transaction of $500,346.00. Following the transaction, the director directly owned 40,260 shares of the company’s stock, valued at $872,031.60. The trade was a 36.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently modified their holdings of KIM. Trust Co. of Toledo NA OH purchased a new position in Kimco Realty in the second quarter worth $27,000. Quent Capital LLC bought a new stake in shares of Kimco Realty during the 3rd quarter worth $27,000. AlphaQuest LLC bought a new stake in shares of Kimco Realty during the 1st quarter worth $29,000. Keystone Global Partners LLC purchased a new position in shares of Kimco Realty in the 1st quarter worth about $30,000. Finally, City Holding Co. purchased a new stake in Kimco Realty during the third quarter worth about $30,000. 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.