Kimco Realty (NYSE:KIM) Sets New 52-Week High After Analyst Upgrade

Kimco Realty Corp (NYSE:KIM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after Robert W. Baird raised their price target on the stock from $23.00 to $26.00. Robert W. Baird currently has an outperform rating on the stock. Kimco Realty traded as high as $25.19 and last traded at $25.04, with a volume of 121206 shares. The stock had previously closed at $25.06.

Several other equities research analysts have also commented on KIM. Compass Point lifted their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Truist Financial lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Raymond James upgraded shares of Kimco Realty from a "market perform" rating to a "strong-buy" rating and set a $25.00 price objective on the stock in a research note on Friday, August 16th. Finally, Mizuho lowered shares of Kimco Realty from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Kimco Realty currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.14.

Hedge Funds Weigh In On Kimco Realty

Hedge funds have recently bought and sold shares of the business. Swedbank AB boosted its stake in shares of Kimco Realty by 5.3% in the 3rd quarter. Swedbank AB now owns 555,094 shares of the real estate investment trust's stock valued at $12,889,000 after purchasing an additional 28,109 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kimco Realty by 4.5% in the 3rd 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. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Kimco Realty in the 3rd quarter valued at $1,303,000. Quest Partners LLC boosted its stake in Kimco Realty by 415,100.0% during the third 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. Finally, Thrivent Financial for Lutherans boosted its stake in Kimco Realty by 2.2% during the third quarter. Thrivent Financial for Lutherans now owns 258,593 shares of the real estate investment trust's stock worth $6,005,000 after acquiring an additional 5,624 shares in the last quarter. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Performance

The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The company's 50 day moving average is $23.64 and its 200-day moving average is $21.40. The firm has a market capitalization of $16.64 billion, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 3.29 and a beta of 1.50.

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

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.25 dividend. This is an increase from Kimco Realty's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty's dividend payout ratio (DPR) is currently 181.82%.

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.