UBS Group Forecasts Strong Price Appreciation for Kimco Realty (NYSE:KIM) Stock

Kimco Realty (NYSE:KIM - Free Report) had its target price raised by UBS Group from $25.00 to $30.00 in a report published on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the real estate investment trust's stock.

A number of other brokerages have also weighed in on KIM. JPMorgan Chase & Co. boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Mizuho lowered shares of Kimco Realty from an "outperform" rating to a "neutral" rating and upped their price target for the company from $20.00 to $23.00 in a research report on Monday, August 19th. Evercore ISI lifted their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Piper Sandler restated an "overweight" rating and set a $29.00 target price (up from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Finally, Raymond James raised Kimco Realty from a "market perform" rating to a "strong-buy" rating and set a $25.00 price objective for the company in a research note on Friday, August 16th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.95.

Kimco Realty Price Performance

Shares of KIM traded up $0.27 during trading hours on Friday, reaching $24.93. 3,862,766 shares of the company's stock traded hands, compared to its average volume of 4,592,507. Kimco Realty has a 12 month low of $17.51 and a 12 month high of $25.07. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a market cap of $16.80 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 4.08 and a beta of 1.50. The firm's 50 day simple moving average is $23.61 and its 200-day simple moving average is $21.31.

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 the consensus estimate of $0.41 by ($0.22). The firm had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. Equities analysts expect that Kimco Realty will post 1.63 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.01%. This is a positive change from Kimco Realty's previous quarterly dividend of $0.24. Kimco Realty's dividend payout ratio is currently 181.82%.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds have recently made changes to their positions in KIM. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Kimco Realty during the third quarter valued at $1,303,000. Quest Partners LLC increased its stake in shares of Kimco Realty by 415,100.0% in the 3rd quarter. Quest Partners LLC now owns 4,152 shares of the real estate investment trust's stock worth $96,000 after acquiring an additional 4,151 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Kimco Realty by 2.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 258,593 shares of the real estate investment trust's stock valued at $6,005,000 after acquiring an additional 5,624 shares during the period. CIBC Asset Management Inc boosted its stake in Kimco Realty by 9.0% during the third quarter. CIBC Asset Management Inc now owns 98,636 shares of the real estate investment trust's stock worth $2,290,000 after acquiring an additional 8,170 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Kimco Realty by 4.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,969 shares of the real estate investment trust's stock worth $557,000 after acquiring an additional 1,008 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

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.