Kimco Realty (NYSE:KIM) Price Target Raised to $28.00

Kimco Realty (NYSE:KIM) had its price objective raised by Piper Sandler from $26.00 to $28.00 in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have an overweight rating on the real estate investment trust’s stock.

KIM has been the topic of a number of other reports. Mizuho set a $21.00 price target on Kimco Realty in a research note on Friday, January 9th. Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Robert W. Baird set a $25.00 target price on Kimco Realty in a research report on Friday, February 13th. Wells Fargo & Company cut their target price on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, December 15th. Finally, Morgan Stanley set a $23.50 price target on shares of Kimco Realty in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.18.

Kimco Realty Price Performance

Kimco Realty stock opened at $22.57 on Tuesday. The stock has a market capitalization of $15.28 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.27 and a beta of 1.07. Kimco Realty has a 52-week low of $17.93 and a 52-week high of $23.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.31. The stock’s 50 day moving average price is $20.95 and its two-hundred day moving average price is $21.20.

Kimco Realty Announces Dividend

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

Hedge Funds Weigh In On Kimco Realty

Several large investors have recently bought and sold shares of KIM. Values First Advisors Inc. grew its stake in Kimco Realty by 1.7% during the third quarter. Values First Advisors Inc. now owns 27,590 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 450 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Kimco Realty by 1.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust’s stock worth $663,000 after purchasing an additional 503 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Kimco Realty by 11.2% during the 3rd quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 520 shares during the last quarter. EPG Wealth Management LLC grew its position in shares of Kimco Realty by 1.8% during the fourth quarter. EPG Wealth Management LLC now owns 30,771 shares of the real estate investment trust’s stock valued at $624,000 after purchasing an additional 530 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in shares of Kimco Realty by 5.0% during the third quarter. Bleakley Financial Group LLC now owns 12,421 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 589 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

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.