Kimco Realty (KIM) Cut to “Sell” at ValuEngine

Kimco Realty (NYSE:KIM) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

KIM has been the topic of a number of other reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $17.00 price objective on shares of Kimco Realty in a report on Thursday, February 1st. Evercore ISI downgraded Kimco Realty from an “in-line” rating to an “underperform” rating in a report on Monday, March 5th. Royal Bank of Canada reaffirmed a “buy” rating and set a $19.00 price objective on shares of Kimco Realty in a report on Friday, February 23rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty in a report on Friday, February 16th. Finally, Mizuho reaffirmed a “hold” rating and set a $15.50 price objective on shares of Kimco Realty in a report on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $19.52.

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KIM traded down $0.35 on Thursday, hitting $13.60. 5,129,746 shares of the stock traded hands, compared to its average volume of 5,377,153. Kimco Realty has a 52 week low of $13.52 and a 52 week high of $22.71. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5,964.89, a price-to-earnings ratio of 8.77, a P/E/G ratio of 2.88 and a beta of 0.50.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The firm had revenue of $310.63 million for the quarter, compared to the consensus estimate of $297.92 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. equities research analysts expect that Kimco Realty will post 1.44 EPS for the current year.

Kimco Realty declared that its Board of Directors has approved a stock repurchase program on Thursday, February 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Frank Lourenso sold 3,380 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $15.29, for a total value of $51,680.20. Following the transaction, the director now directly owns 182,481 shares of the company’s stock, valued at approximately $2,790,134.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in KIM. Janus Henderson Group PLC boosted its holdings in shares of Kimco Realty by 63.6% in the 3rd quarter. Janus Henderson Group PLC now owns 131,325 shares of the real estate investment trust’s stock worth $2,567,000 after acquiring an additional 51,043 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Kimco Realty in the 3rd quarter worth approximately $243,000. Atlantic Trust Group LLC boosted its holdings in shares of Kimco Realty by 14.9% in the 3rd quarter. Atlantic Trust Group LLC now owns 89,993 shares of the real estate investment trust’s stock worth $1,760,000 after acquiring an additional 11,643 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Kimco Realty by 101.9% in the 4th quarter. Bank of Montreal Can now owns 366,493 shares of the real estate investment trust’s stock worth $6,651,000 after acquiring an additional 184,988 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Kimco Realty by 5.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 4,580,965 shares of the real estate investment trust’s stock worth $83,145,000 after acquiring an additional 254,820 shares in the last quarter. 90.62% of the stock is currently owned by institutional investors and hedge funds.

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About Kimco Realty

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America's largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2017, the company owned interests in 492 U.S. shopping centers comprising 83 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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