Kimco Realty (NYSE:KIM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, January 2nd.
According to Zacks, “Shares of Kimco Realty have underperformed the industry it belongs to, in the past three months. Moreover, the stock has seen the Zacks Consensus Estimate for full-year 2017 funds from operations (FFO) per share being revised downward in a month’s time. Notably, decreasing footfall at malls amid shift of consumers toward online channels, store closures and bankruptcy of retailers are likely to hurt the performance of this retail REIT. Also, the dilutive impact on earnings from sale of assets cannot be bypassed in the near term. However, its redevelopment and development efforts, non-core asset dispositions and measures to enhance small shops portfolio have capacity to drive long-term growth.”
Several other research analysts have also issued reports on KIM. BMO Capital Markets initiated coverage on Kimco Realty in a research note on Monday, September 11th. They issued a “market perform” rating and a $21.00 target price for the company. JPMorgan Chase & Co. upgraded Kimco Realty from a “neutral” rating to an “overweight” rating and set a $24.00 price target on the stock in a report on Tuesday, September 26th. Mizuho restated a “hold” rating and set a $19.00 target price on shares of Kimco Realty in a report on Monday, October 9th. Boenning Scattergood restated a “hold” rating on shares of Kimco Realty in a report on Friday, October 27th. Finally, Robert W. Baird restated a “buy” rating and set a $23.00 target price on shares of Kimco Realty in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Kimco Realty currently has an average rating of “Hold” and a consensus price target of $22.22.
Shares of Kimco Realty (NYSE KIM) opened at $16.41 on Tuesday. The stock has a market capitalization of $7,010.51, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 2.00 and a beta of 0.65. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty has a 12-month low of $16.35 and a 12-month high of $25.48.
Kimco Realty (NYSE:KIM) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). The firm had revenue of $290.92 million during the quarter, compared to analyst estimates of $295.34 million. Kimco Realty had a net margin of 35.51% and a return on equity of 7.73%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. equities analysts forecast that Kimco Realty will post 1.55 EPS for the current fiscal year.
In other news, insider Milton Cooper purchased 50,000 shares of Kimco Realty stock in a transaction that occurred on Monday, December 4th. The stock was acquired at an average cost of $19.20 per share, for a total transaction of $960,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Kimco Realty by 24.5% during the 2nd quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock valued at $224,251,000 after acquiring an additional 2,408,799 shares during the period. American Century Companies Inc. acquired a new position in shares of Kimco Realty during the 3rd quarter worth $44,360,000. BlackRock Inc. raised its holdings in shares of Kimco Realty by 3.8% during the 2nd quarter. BlackRock Inc. now owns 41,368,865 shares of the real estate investment trust’s stock worth $759,119,000 after buying an additional 1,506,999 shares in the last quarter. Hamlin Capital Management LLC raised its holdings in shares of Kimco Realty by 38.9% during the 3rd quarter. Hamlin Capital Management LLC now owns 4,330,610 shares of the real estate investment trust’s stock worth $84,663,000 after buying an additional 1,212,542 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in shares of Kimco Realty by 4,014.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,147,429 shares of the real estate investment trust’s stock worth $21,054,000 after buying an additional 1,119,544 shares in the last quarter. Institutional investors and hedge funds own 92.00% of the company’s stock.
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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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