Kimco Realty (NYSE:KIM) Upgraded at Argus

Argus upgraded shares of Kimco Realty (NYSE:KIM) to a strong-buy rating in a research report sent to investors on Friday, Zacks.com reports.

KIM has been the topic of several other research reports. Robert W. Baird lifted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an outperform rating in a research report on Thursday, August 8th. Mizuho cut shares of Kimco Realty from an outperform rating to a neutral rating and lifted their price target for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Raymond James upgraded Kimco Realty from a market perform rating to a strong-buy rating and set a $25.00 price objective on the stock in a research note on Friday, August 16th. Truist Financial raised their target price on Kimco Realty from $22.00 to $24.00 and gave the stock a hold rating in a research report on Wednesday, August 28th. Finally, Evercore ISI upped their price target on Kimco Realty from $21.00 to $22.00 and gave the company an in-line rating in a research report on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty currently has a consensus rating of Moderate Buy and a consensus target price of $23.21.

Kimco Realty Stock Performance

Shares of Kimco Realty stock opened at $23.31 on Friday. The business’s fifty day simple moving average is $21.61 and its 200 day simple moving average is $19.87. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty has a 12 month low of $16.34 and a 12 month high of $23.53. The firm has a market capitalization of $15.71 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 3.92 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last announced 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). The business had revenue of $500.20 million for the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. As a group, analysts anticipate that Kimco Realty will post 1.62 EPS for the current year.

Kimco Realty Announces Dividend

The business 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s payout ratio is presently 181.14%.

Insider Activity

In other news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 directly owns 337,111 shares in the company, valued at $7,389,473.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Kimco Realty

Several institutional investors and hedge funds have recently bought and sold shares of KIM. Analyst IMS Investment Management Services Ltd. increased its holdings in shares of Kimco Realty by 157.1% in the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 167,422 shares of the real estate investment trust’s stock worth $3,568,000 after purchasing an additional 102,300 shares during the period. ProShare Advisors LLC raised its holdings in shares of Kimco Realty by 71.0% in the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock valued at $3,531,000 after acquiring an additional 74,729 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Kimco Realty by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after acquiring an additional 7,931,013 shares during the last quarter. Evoke Wealth LLC bought a new position in shares of Kimco Realty in the fourth quarter worth approximately $4,181,000. Finally, Forsta AP Fonden raised its stake in Kimco Realty by 232.9% in the first quarter. Forsta AP Fonden now owns 435,800 shares of the real estate investment trust’s stock valued at $8,546,000 after purchasing an additional 304,900 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other 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.