Evercore ISI Cuts Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM - Free Report) had its target price lowered by Evercore ISI from $24.00 to $23.00 in a report released on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust's stock.

A number of other equities analysts have also recently commented on KIM. Scotiabank boosted their price target on Kimco Realty from $23.00 to $26.00 and gave the stock a "sector perform" rating in a report on Monday, November 25th. UBS Group increased their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Robert W. Baird lifted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut shares of Kimco Realty from an "overweight" rating to a "neutral" rating and set a $26.00 price objective for the company. in a research report on Friday. Finally, The Goldman Sachs Group raised their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.83.

Kimco Realty Stock Performance

NYSE KIM traded up $0.19 during trading on Tuesday, reaching $23.62. The company's stock had a trading volume of 1,557,415 shares, compared to its average volume of 4,517,784. Kimco Realty has a 12 month low of $17.57 and a 12 month high of $25.83. The firm has a 50 day moving average price of $24.57 and a 200 day moving average price of $22.64. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of 42.95, a price-to-earnings-growth ratio of 3.20 and a beta of 1.50. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.22). The company had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. As a group, equities analysts anticipate that Kimco Realty will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This is a boost from Kimco Realty's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.23%. Kimco Realty's dividend payout ratio is presently 181.82%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KIM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Kimco Realty by 842.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust's stock valued at $145,420,000 after purchasing an additional 5,598,091 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Kimco Realty by 43.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust's stock valued at $154,583,000 after acquiring an additional 2,400,752 shares during the last quarter. FMR LLC grew its holdings in Kimco Realty by 6.1% during the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust's stock worth $518,733,000 after acquiring an additional 1,283,352 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust's stock worth $221,740,000 after acquiring an additional 1,193,600 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Kimco Realty by 71.5% in the 2nd quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust's stock valued at $54,345,000 after purchasing an additional 1,164,029 shares during the period. Institutional investors own 89.25% of the company's stock.

About Kimco Realty

Kimco Realty Corp. 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, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.