Kimco Realty (NYSE:KIM) Sets New 52-Week High at $22.88

Kimco Realty Corp (NYSE:KIM - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $22.88 and last traded at $22.83, with a volume of 1865248 shares traded. The stock had previously closed at $22.49.

Analyst Upgrades and Downgrades

KIM has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Raymond James upgraded Kimco Realty from a "market perform" rating to a "strong-buy" rating and set a $25.00 price target for the company in a report on Friday, August 16th. Mizuho downgraded shares of Kimco Realty from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $20.00 to $23.00 in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.73.

Kimco Realty Trading Up 1.4 %

The stock has a market cap of $15.38 billion, a P/E ratio of 43.04, a PEG ratio of 4.23 and a beta of 1.51. The business's 50 day simple moving average is $20.58 and its 200 day simple moving average is $19.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.86.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.23). The company had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. On average, analysts expect that Kimco Realty Corp will post 1.6 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.21%. Kimco Realty's dividend payout ratio (DPR) is presently 181.13%.

Insider Transactions at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the sale, the chief operating officer now directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Kimco Realty

A number of institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Kimco Realty during the fourth quarter valued at $27,000. Principal Securities Inc. acquired a new position in Kimco Realty in the fourth quarter valued at approximately $29,000. Blue Trust Inc. boosted its stake in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Kimco Realty by 52.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 773 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust's stock valued at $66,000 after acquiring an additional 1,787 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

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.