Shares of Kimco Realty Corporation (NYSE:KIM) have received an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $23.87.
A number of equities research analysts have issued reports on KIM shares. Zacks Investment Research lowered shares of Kimco Realty Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Argus lowered shares of Kimco Realty Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 28th. They noted that the move was a valuation call. BMO Capital Markets started coverage on shares of Kimco Realty Corporation in a report on Monday, September 11th. They set a “market perform” rating and a $21.00 target price on the stock. Barclays PLC reiterated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Kimco Realty Corporation in a report on Monday, July 10th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $19.50 target price (down from $21.00) on shares of Kimco Realty Corporation in a report on Monday, July 10th.
Kimco Realty Corporation (KIM) opened at 18.33 on Friday. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 37.33 and a beta of 0.67. Kimco Realty Corporation has a one year low of $17.02 and a one year high of $27.26. The company’s 50-day moving average is $19.51 and its 200 day moving average is $19.47.
Kimco Realty Corporation (NYSE:KIM) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.13). The business had revenue of $290.92 million for the quarter, compared to analyst estimates of $295.34 million. Kimco Realty Corporation had a return on equity of 7.73% and a net margin of 35.51%. Kimco Realty Corporation’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. Equities analysts expect that Kimco Realty Corporation will post $0.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be given a $0.28 dividend. The ex-dividend date is Friday, December 29th. This is an increase from Kimco Realty Corporation’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.11%. Kimco Realty Corporation’s dividend payout ratio is currently 125.58%.
Large investors have recently made changes to their positions in the business. Penserra Capital Management LLC purchased a new stake in shares of Kimco Realty Corporation in the 3rd quarter valued at approximately $105,000. Pacer Advisors Inc. increased its position in shares of Kimco Realty Corporation by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 790 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Kimco Realty Corporation in the 3rd quarter valued at approximately $201,000. Carnegie Capital Asset Management LLC purchased a new stake in shares of Kimco Realty Corporation in the 2nd quarter valued at approximately $204,000. Finally, Creative Planning increased its position in shares of Kimco Realty Corporation by 31.8% in the 2nd quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 2,715 shares during the last quarter. 88.65% of the stock is currently owned by institutional investors.
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About Kimco Realty Corporation
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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