Robert W. Baird Boosts Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its price objective increased by Robert W. Baird from $21.00 to $23.00 in a research report sent to investors on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

Several other research firms also recently commented on KIM. Truist Financial decreased their price target on shares of Kimco Realty from $23.00 to $22.00 and set a hold rating on the stock in a research note on Monday, May 20th. Mizuho cut their price target on shares of Kimco Realty from $21.00 to $20.00 and set a buy rating for the company in a research report on Thursday, May 23rd. Piper Sandler reiterated an overweight rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on Kimco Realty from $22.00 to $24.00 and gave the company an overweight rating in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $22.15.

Kimco Realty Price Performance

Shares of KIM stock traded up $0.05 during trading hours on Thursday, reaching $21.84. The stock had a trading volume of 1,768,312 shares, compared to its average volume of 4,868,733. The stock’s fifty day simple moving average is $20.05 and its 200 day simple moving average is $19.48. The firm has a market capitalization of $14.72 billion, a PE ratio of 41.21, a PEG ratio of 4.23 and a beta of 1.51. Kimco Realty has a 12 month low of $16.34 and a 12 month high of $22.83. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Kimco Realty will post 1.6 EPS for the current year.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s payout ratio is 181.13%.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the transaction, the chief operating officer now owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently modified their holdings of KIM. Canada Pension Plan Investment Board bought a new stake in shares of Kimco Realty during the 1st quarter valued at about $200,043,000. Vanguard Group Inc. boosted its holdings in shares of Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after buying an additional 7,931,013 shares during the last quarter. Norges Bank bought a new stake in Kimco Realty during the fourth quarter valued at approximately $150,326,000. Centersquare Investment Management LLC increased its holdings in Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock valued at $269,531,000 after buying an additional 6,282,891 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Kimco Realty in the fourth quarter worth approximately $84,678,000. 89.25% of the stock is owned by institutional investors.

Kimco Realty Company Profile

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.