Kimco Realty (NYSE:KIM) Price Target Cut to $24.00 by Analysts at Wells Fargo & Company

Kimco Realty (NYSE:KIM - Get Free Report) had its price target reduced by equities research analysts at Wells Fargo & Company from $26.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target would suggest a potential upside of 5.93% from the company's current price.

KIM has been the subject of several other research reports. Jefferies Financial Group downgraded shares of Kimco Realty from a "buy" rating to a "hold" rating and reduced their price target for the company from $28.00 to $25.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut shares of Kimco Realty from an "overweight" rating to a "neutral" rating and set a $26.00 target price for the company. in a research report on Friday, December 20th. Robert W. Baird lifted their price target on Kimco Realty from $23.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Mizuho raised their target price on Kimco Realty from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, Evercore ISI cut their target price on Kimco Realty from $24.00 to $23.00 and set an "in-line" rating on the stock in a research note on Tuesday, December 24th. Eleven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $24.84.

Kimco Realty Stock Up 1.1 %

Shares of KIM stock traded up $0.24 during mid-day trading on Wednesday, reaching $22.66. 3,545,943 shares of the company were exchanged, compared to its average volume of 4,230,984. The company has a market capitalization of $15.27 billion, a P/E ratio of 41.19, a P/E/G ratio of 2.87 and a beta of 1.51. The business's 50 day simple moving average is $23.66 and its 200 day simple moving average is $23.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty has a fifty-two week low of $17.57 and a fifty-two week high of $25.83.

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

Institutional Investors Weigh In On Kimco Realty

A number of large investors have recently made changes to their positions in KIM. State Street Corp grew its holdings in shares of Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust's stock valued at $1,048,797,000 after buying an additional 882,047 shares in the last quarter. FMR LLC increased its holdings in shares of Kimco Realty by 6.1% in the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust's stock valued at $518,733,000 after purchasing an additional 1,283,352 shares during the period. Geode Capital Management LLC lifted its position in shares of Kimco Realty by 0.3% in the third quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust's stock worth $398,468,000 after purchasing an additional 53,378 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kimco Realty by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust's stock worth $220,131,000 after purchasing an additional 405,685 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Kimco Realty by 842.3% during the third 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 in the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Company Profile

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.