Kimco Realty Corp (NYSE:KIM – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.28 and last traded at $24.23, with a volume of 2159672 shares. The stock had previously closed at $23.41.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Evercore ISI boosted their target price on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Mizuho downgraded Kimco Realty from an “outperform” rating to a “neutral” rating and increased their price target for the company from $20.00 to $23.00 in a research report on Monday, August 19th. Wells Fargo & Company boosted their price objective on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Truist Financial raised their target price on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.
Kimco Realty Price Performance
The business’s 50 day moving average is $22.96 and its two-hundred day moving average is $20.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $16.19 billion, a PE ratio of 44.17, a price-to-earnings-growth ratio of 3.95 and a beta of 1.50.
Kimco Realty (NYSE:KIM – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). The company had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. Equities research analysts anticipate that Kimco Realty Corp will post 1.62 earnings per share for the current fiscal year.
Kimco Realty Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.00%. Kimco Realty’s dividend payout ratio is currently 181.13%.
Insiders Place Their Bets
In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On Kimco Realty
A number of institutional investors and hedge funds have recently bought and sold shares of KIM. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Kimco Realty by 1.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock worth $816,000 after buying an additional 522 shares during the last quarter. CWM LLC raised its position in Kimco Realty by 4.7% during the third quarter. CWM LLC now owns 13,323 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 595 shares in the last quarter. Cascade Investment Advisors Inc. lifted its stake in Kimco Realty by 1.1% during the second quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock worth $1,110,000 after purchasing an additional 640 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in Kimco Realty by 5.0% during the second quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 663 shares during the last quarter. Finally, Baker Ellis Asset Management LLC boosted its holdings in shares of Kimco Realty by 0.5% in the 1st quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock worth $2,545,000 after purchasing an additional 680 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.
About Kimco Realty
Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.