BMO Capital Markets set a $19.00 target price on Kimco Realty (NYSE:KIM) in a report issued on Thursday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.
A number of other equities analysts have also commented on KIM. Boenning Scattergood reissued a hold rating on shares of Kimco Realty in a report on Friday, October 27th. Robert W. Baird reissued a buy rating and issued a $23.00 price target on shares of Kimco Realty in a report on Friday, November 10th. Stifel Nicolaus initiated coverage on shares of Kimco Realty in a report on Thursday, November 30th. They issued a hold rating and a $19.50 price target on the stock. JPMorgan Chase & Co. lowered shares of Kimco Realty from an overweight rating to a neutral rating and set a $20.00 price target on the stock. in a report on Friday, December 15th. Finally, Mizuho set a $20.00 price target on shares of Kimco Realty and gave the stock a hold rating in a report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $20.81.
Kimco Realty (KIM) opened at $15.20 on Thursday. The company has a market cap of $6,469.83, a price-to-earnings ratio of 10.07, a PEG ratio of 2.25 and a beta of 0.45. Kimco Realty has a twelve month low of $13.70 and a twelve month high of $24.75. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.16.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21). The company had revenue of $310.63 million during the quarter, compared to the consensus estimate of $297.92 million. Kimco Realty had a return on equity of 7.85% and a net margin of 35.48%. Kimco Realty’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. equities research analysts expect that Kimco Realty will post 1.44 earnings per share for the current fiscal year.
Kimco Realty declared that its board has approved a stock buyback plan on Thursday, February 15th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.37%. The ex-dividend date of this dividend is Monday, April 2nd. Kimco Realty’s dividend payout ratio is currently 128.74%.
In other Kimco Realty news, insider Milton Cooper bought 50,000 shares of Kimco Realty stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this hyperlink. 2.90% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in KIM. Royal Bank of Canada grew its holdings in shares of Kimco Realty by 103.7% during the 2nd quarter. Royal Bank of Canada now owns 126,830 shares of the real estate investment trust’s stock valued at $2,327,000 after purchasing an additional 64,576 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Kimco Realty by 43.4% during the 2nd quarter. Janus Henderson Group PLC now owns 80,282 shares of the real estate investment trust’s stock valued at $1,473,000 after purchasing an additional 24,291 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Kimco Realty by 3.0% during the 2nd 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 period. Nomura Holdings Inc. purchased a new stake in Kimco Realty during the 2nd quarter valued at $591,000. Finally, Toronto Dominion Bank boosted its position in Kimco Realty by 25.6% during the 2nd 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 period. 89.45% 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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