Kimco Realty Corporation (NYSE:KIM) had its target price upped by Citigroup Inc. from $19.50 to $21.00 in a research note issued to investors on Monday. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
Several other research analysts have also recently commented on KIM. Zacks Investment Research cut Kimco Realty Corporation from a hold rating to a sell rating in a research note on Thursday, April 27th. Canaccord Genuity reiterated a buy rating and issued a $34.00 price target on shares of Kimco Realty Corporation in a research note on Thursday, April 27th. TheStreet cut Kimco Realty Corporation from a b- rating to a c rating in a research note on Wednesday, April 26th. ValuEngine cut Kimco Realty Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Kimco Realty Corporation from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $27.28.
Kimco Realty Corporation (NYSE KIM) opened at 19.68 on Monday. The company’s 50-day moving average price is $19.40 and its 200 day moving average price is $20.81. Kimco Realty Corporation has a 1-year low of $17.02 and a 1-year high of $30.71. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 40.08 and a beta of 0.67.
Kimco Realty Corporation (NYSE:KIM) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The business had revenue of $292.84 million during the quarter, compared to analyst estimates of $290.95 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts expect that Kimco Realty Corporation will post $0.73 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 5.49%. The ex-dividend date is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio is currently 220.41%.
In other news, Director Philip E. Coviello, Jr. acquired 20,000 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average cost of $17.37 per share, with a total value of $347,400.00. Following the completion of the acquisition, the director now directly owns 41,045 shares in the company, valued at $712,951.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in shares of Kimco Realty Corporation by 8.4% in the second quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 790 shares in the last quarter. Carnegie Capital Asset Management LLC bought a new position in Kimco Realty Corporation during the second quarter valued at approximately $204,000. Creative Planning raised its position in Kimco Realty Corporation by 31.8% in the second quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 2,715 shares during the period. First Allied Advisory Services Inc. raised its position in Kimco Realty Corporation by 5.6% in the second quarter. First Allied Advisory Services Inc. now owns 10,550 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 564 shares during the period. Finally, Private Asset Management Inc. raised its position in Kimco Realty Corporation by 1.8% in the second quarter. Private Asset Management Inc. now owns 11,338 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 200 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.
Kimco Realty Corporation 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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