Bank of America downgraded shares of Kimco Realty (NYSE:KIM) from a buy rating to a neutral rating in a research note released on Friday, February 16th, MarketBeat Ratings reports. The brokerage currently has $17.00 price objective on the real estate investment trust’s stock.
Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. cut shares of Kimco Realty from an overweight rating to a neutral rating and set a $20.00 price target on the stock. in a research note on Friday, December 15th. BMO Capital Markets set a $21.00 price target on shares of Kimco Realty and gave the company a hold rating in a research note on Wednesday, October 25th. ValuEngine cut shares of Kimco Realty from a buy rating to a hold rating in a research note on Sunday, December 31st. Mizuho set a $20.00 price objective on shares of Kimco Realty and gave the company a hold rating in a research note on Monday, December 18th. Finally, Zacks Investment Research cut shares of Kimco Realty from a hold rating to a sell rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. Kimco Realty currently has an average rating of Hold and a consensus target price of $19.48.
Kimco Realty (KIM) traded down $0.09 on Friday, hitting $14.59. 4,345,335 shares of the stock traded hands, compared to its average volume of 5,984,300. Kimco Realty has a twelve month low of $13.70 and a twelve month high of $23.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $6,180.00, a PE ratio of 22.45, a P/E/G ratio of 3.02 and a beta of 0.50.
Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.21). Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The company had revenue of $310.63 million for the quarter, compared to the consensus estimate of $297.92 million. During the same period last year, the company earned $0.38 earnings per share. Kimco Realty’s revenue for the quarter was up 6.1% compared to the same quarter last year. sell-side analysts anticipate that Kimco Realty will post 1.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Tuesday, April 3rd will be paid a $0.28 dividend. The ex-dividend date is Monday, April 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 7.68%. Kimco Realty’s payout ratio is presently 172.31%.
Kimco Realty declared that its Board of Directors has authorized a share repurchase program on Thursday, February 15th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Frank Lourenso sold 3,380 shares of Kimco Realty stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $15.29, for a total transaction of $51,680.20. Following the transaction, the director now directly owns 182,481 shares of the company’s stock, valued at $2,790,134.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Kimco Realty by 47.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 210,637 shares of the real estate investment trust’s stock worth $3,823,000 after purchasing an additional 67,365 shares in the last quarter. Meitav Dash Investments Ltd. bought a new position in shares of Kimco Realty during the fourth quarter worth $602,000. MetLife Investment Advisors LLC bought a new position in shares of Kimco Realty during the fourth quarter worth $2,390,000. Jump Trading LLC bought a new position in shares of Kimco Realty during the fourth quarter worth $337,000. Finally, Jane Street Group LLC bought a new position in shares of Kimco Realty during the fourth quarter worth $1,387,000. 90.59% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Kimco Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimco Realty and related companies with MarketBeat.com's FREE daily email newsletter.