Analysts Set Kimco Realty Corporation (NYSE:KIM) PT at $24.70

Shares of Kimco Realty Corporation (NYSE:KIM) have received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.70.

Several research firms have issued reports on KIM. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Barclays restated an “overweight” rating and set a $25.00 target price on shares of Kimco Realty in a report on Tuesday, January 13th. Weiss Ratings upgraded Kimco Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 5th. UBS Group lowered their price objective on Kimco Realty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Evercore set a $24.00 price objective on Kimco Realty in a research note on Friday, February 13th.

Kimco Realty Price Performance

Shares of Kimco Realty stock opened at $22.60 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. Kimco Realty has a 52-week low of $17.93 and a 52-week high of $23.91. The company has a fifty day moving average of $22.51 and a 200-day moving average of $21.43. The stock has a market capitalization of $15.23 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 1.26 and a beta of 1.03.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Friday, March 6th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.04 annualized dividend and a yield of 4.6%. Kimco Realty’s dividend payout ratio is presently 128.40%.

Hedge Funds Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Kimco Realty by 2.2% in the third quarter. State Street Corp now owns 47,382,410 shares of the real estate investment trust’s stock worth $1,035,306,000 after purchasing an additional 1,034,573 shares during the last quarter. Geode Capital Management LLC raised its position in Kimco Realty by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust’s stock valued at $386,617,000 after purchasing an additional 223,936 shares during the last quarter. Invesco Ltd. lifted its holdings in Kimco Realty by 34.9% in the 4th quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock worth $344,933,000 after buying an additional 4,399,959 shares during the period. Centersquare Investment Management LLC grew its position in shares of Kimco Realty by 8.1% in the 4th quarter. Centersquare Investment Management LLC now owns 12,905,449 shares of the real estate investment trust’s stock worth $261,593,000 after buying an additional 970,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Kimco Realty by 0.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,195,113 shares of the real estate investment trust’s stock worth $266,463,000 after buying an additional 63,054 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

Kimco Realty Company Profile

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.