J P Morgan Chase & Co cut shares of Kimco Realty (NYSE:KIM) from an overweight rating to a neutral rating in a research report released on Friday morning. The firm currently has $20.00 target price on the real estate investment trust’s stock.
A number of other analysts have also weighed in on KIM. BidaskClub lowered shares of Kimco Realty from a buy rating to a hold rating in a research note on Friday, August 18th. Boenning Scattergood reissued a hold rating on shares of Kimco Realty in a report on Friday, August 18th. Stifel Nicolaus assumed coverage on shares of Kimco Realty in a report on Thursday, November 30th. They set a hold rating and a $19.50 price target on the stock. Robert W. Baird downgraded shares of Kimco Realty from an outperform rating to a neutral rating and lowered their price target for the stock from $23.00 to $20.00 in a report on Monday, November 27th. Finally, Mizuho reissued a hold rating and set a $19.00 price target on shares of Kimco Realty in a report on Monday, October 9th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $22.65.
Kimco Realty (KIM) traded up $0.11 during trading hours on Friday, hitting $18.47. 7,748,984 shares of the stock were exchanged, compared to its average volume of 4,124,818. The firm has a market capitalization of $7,815.00, a price-to-earnings ratio of 12.16, a P/E/G ratio of 2.19 and a beta of 0.65. Kimco Realty has a 1 year low of $17.02 and a 1 year high of $26.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.08 and a quick ratio of 0.08.
Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.13). The business had revenue of $290.92 million during the quarter, compared to analyst estimates of $295.34 million. Kimco Realty had a return on equity of 7.73% and a net margin of 35.51%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. equities research analysts forecast that Kimco Realty will post 1.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 6.06%. Kimco Realty’s dividend payout ratio is 125.58%.
In related news, insider Milton Cooper acquired 50,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were acquired at an average cost of $19.20 per share, with a total value of $960,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of KIM. NGAM Advisors L.P. lifted its holdings in Kimco Realty by 14.7% during the second quarter. NGAM Advisors L.P. now owns 13,387 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 1,718 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Kimco Realty by 0.3% during the second quarter. Retirement Systems of Alabama now owns 206,382 shares of the real estate investment trust’s stock valued at $3,787,000 after purchasing an additional 638 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Kimco Realty by 11.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,547,968 shares of the real estate investment trust’s stock valued at $65,106,000 after purchasing an additional 354,057 shares in the last quarter. Rhumbline Advisers lifted its holdings in Kimco Realty by 0.8% during the second quarter. Rhumbline Advisers now owns 812,680 shares of the real estate investment trust’s stock valued at $14,913,000 after purchasing an additional 6,524 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in Kimco Realty during the second quarter valued at $669,000. 92.22% of the stock is currently owned by institutional investors and hedge funds.
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Kimco Realty 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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