Kimco Realty (NYSE:KIM) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Friday, MarketBeat reports. They presently have a $17.00 price objective on the real estate investment trust’s stock. Bank of America’s target price would suggest a potential upside of 11.84% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. BMO Capital Markets set a $19.00 target price on shares of Kimco Realty and gave the stock a “hold” rating in a report on Thursday. ValuEngine lowered shares of Kimco Realty from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays dropped their price objective on shares of Kimco Realty from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. SunTrust Banks set a $18.00 price objective on shares of Kimco Realty and gave the company a “hold” rating in a report on Monday, January 22nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $17.00 price objective on shares of Kimco Realty in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. Kimco Realty has a consensus rating of “Hold” and a consensus price target of $20.81.
Shares of Kimco Realty (NYSE KIM) opened at $15.20 on Friday. Kimco Realty has a 1-year low of $13.70 and a 1-year high of $24.75. The stock has a market cap of $6,469.93, a price-to-earnings ratio of 17.47, a PEG ratio of 2.25 and a beta of 0.46. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16.
Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21). Kimco Realty had a return on equity of 7.85% and a net margin of 35.48%. The business had revenue of $310.63 million for the quarter, compared to analysts’ expectations of $297.92 million. During the same period in the previous year, the company earned $0.38 EPS. Kimco Realty’s quarterly revenue was up 6.1% compared to the same quarter last year. equities research analysts forecast that Kimco Realty will post 1.44 EPS for the current fiscal year.
Kimco Realty declared that its board has approved a share buyback plan on Thursday, February 15th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Milton Cooper bought 50,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were bought at an average price of $19.20 per share, with a total value of $960,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of KIM. Royal Bank of Canada lifted its position in Kimco Realty by 103.7% in the second quarter. Royal Bank of Canada now owns 126,830 shares of the real estate investment trust’s stock valued at $2,327,000 after buying an additional 64,576 shares during the last quarter. Janus Henderson Group PLC lifted its position in Kimco Realty by 43.4% in the second quarter. Janus Henderson Group PLC now owns 80,282 shares of the real estate investment trust’s stock valued at $1,473,000 after buying an additional 24,291 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Kimco Realty by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 460,041 shares of the real estate investment trust’s stock valued at $8,441,000 after buying an additional 13,385 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Kimco Realty in the second quarter valued at about $591,000. Finally, Toronto Dominion Bank lifted its position in Kimco Realty by 25.6% in the second quarter. Toronto Dominion Bank now owns 144,197 shares of the real estate investment trust’s stock valued at $2,645,000 after buying an additional 29,346 shares during the last quarter. 91.37% of the stock is currently owned by institutional investors.
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About Kimco Realty
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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