Kimco Realty (NYSE:KIM) had its price objective reduced by Deutsche Bank from $21.00 to $20.00 in a research note published on Monday, March 19th. They currently have a hold rating on the real estate investment trust’s stock.
A number of other analysts also recently issued reports on the company. JPMorgan Chase downgraded Kimco Realty from an overweight rating to a neutral rating and set a $20.00 price objective on the stock. in a research note on Friday, December 15th. Bank of America downgraded Kimco Realty from a buy rating to a neutral rating and set a $17.00 target price on the stock. in a research report on Friday, February 16th. ValuEngine downgraded Kimco Realty from a buy rating to a hold rating in a research report on Sunday, December 31st. Mizuho set a $20.00 target price on Kimco Realty and gave the company a hold rating in a research report on Monday, December 18th. Finally, Zacks Investment Research downgraded Kimco Realty from a hold rating to a sell rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Kimco Realty presently has a consensus rating of Hold and a consensus price target of $19.52.
NYSE:KIM opened at $14.31 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.09 and a current ratio of 0.09. Kimco Realty has a 1 year low of $13.69 and a 1 year high of $23.03. The company has a market capitalization of $6,096.78, a price-to-earnings ratio of 9.23, a PEG ratio of 2.95 and a beta of 0.50.
Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21). Kimco Realty had a return on equity of 7.85% and a net margin of 35.48%. The firm had revenue of $310.63 million during the quarter, compared to the consensus estimate of $297.92 million. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. equities analysts expect that Kimco Realty will post 1.44 earnings per share for the current fiscal year.
Kimco Realty declared that its board has initiated a share buyback plan on Thursday, February 15th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date is Monday, April 2nd. Kimco Realty’s payout ratio is currently 72.26%.
In related news, Director Frank Lourenso sold 3,380 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $15.29, for a total transaction of $51,680.20. Following the completion of the transaction, the director now owns 182,481 shares in the company, valued at approximately $2,790,134.49. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Kimco Realty by 47.0% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 210,637 shares of the real estate investment trust’s stock valued at $3,823,000 after acquiring an additional 67,365 shares during the period. Meitav Dash Investments Ltd. purchased a new stake in shares of Kimco Realty in the 4th quarter worth $602,000. MetLife Investment Advisors LLC purchased a new stake in shares of Kimco Realty in the 4th quarter worth $2,390,000. Jump Trading LLC purchased a new stake in shares of Kimco Realty in the 4th quarter worth $337,000. Finally, Jane Street Group LLC purchased a new stake in shares of Kimco Realty in the 4th quarter worth $1,387,000. Institutional investors own 90.58% of the company’s stock.
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Kimco Realty Company Profile
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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