Kimco Realty (NYSE:KIM) Price Target Raised to $24.00

Kimco Realty (NYSE:KIM) had its target price increased by Scotiabank from $22.00 to $24.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts also recently issued reports on the stock. Citigroup reduced their price objective on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Weiss Ratings raised shares of Kimco Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 5th. UBS Group reduced their price target on Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Truist Financial raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Monday. Finally, Mizuho set a $21.00 price objective on Kimco Realty in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.70.

Kimco Realty Price Performance

Kimco Realty stock opened at $22.25 on Tuesday. Kimco Realty has a 12-month low of $17.93 and a 12-month high of $23.91. The stock has a market capitalization of $15.00 billion, a P/E ratio of 27.47, a P/E/G ratio of 1.25 and a beta of 1.04. The firm’s 50-day moving average is $22.33 and its two-hundred day moving average is $21.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Friday, March 6th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, March 6th. This represents a $1.04 annualized dividend and a dividend yield of 4.7%. Kimco Realty’s payout ratio is presently 128.40%.

Institutional Trading of Kimco Realty

Large investors have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new position in shares of Kimco Realty during the third quarter worth about $27,000. Zions Bancorporation National Association UT grew its stake in shares of Kimco Realty by 270.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 1,049 shares in the last quarter. City Holding Co. purchased a new stake in shares of Kimco Realty during the 3rd quarter valued at about $30,000. Brown Lisle Cummings Inc. raised its holdings in shares of Kimco Realty by 127.3% during the 4th quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 840 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new position in Kimco Realty during the 2nd quarter worth approximately $37,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.