Scotiabank Boosts Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM - Free Report) had its price target hoisted by Scotiabank from $21.00 to $23.00 in a research report report published on Monday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust's stock.

Other analysts also recently issued reports about the stock. Truist Financial reduced their price target on shares of Kimco Realty from $23.00 to $22.00 and set a hold rating for the company in a report on Monday, May 20th. Raymond James upgraded shares of Kimco Realty from a market perform rating to a strong-buy rating and set a $25.00 price target for the company in a research note on Friday, August 16th. Piper Sandler reaffirmed an overweight rating and issued a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Robert W. Baird increased their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock an outperform rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Kimco Realty from $22.00 to $24.00 and gave the company an overweight rating in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $22.75.

Kimco Realty Stock Up 0.7 %

Shares of NYSE KIM traded up $0.16 during mid-day trading on Monday, reaching $23.39. 2,640,987 shares of the company traded hands, compared to its average volume of 4,767,667. The company's fifty day moving average is $20.85 and its two-hundred day moving average is $19.65. Kimco Realty has a fifty-two week low of $16.34 and a fifty-two week high of $23.53. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. The stock has a market cap of $15.77 billion, a PE ratio of 44.13, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51.

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

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Thursday, September 5th. Kimco Realty's payout ratio is 181.13%.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares of the company's stock, valued at $7,389,473.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust's stock valued at $2,162,347,000 after acquiring an additional 7,931,013 shares in the last quarter. Cohen & Steers Inc. grew its stake in Kimco Realty by 7.3% in the fourth quarter. Cohen & Steers Inc. now owns 44,190,222 shares of the real estate investment trust's stock valued at $941,817,000 after purchasing an additional 3,022,995 shares in the last quarter. APG Asset Management US Inc. increased its position in shares of Kimco Realty by 1.6% during the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust's stock worth $288,155,000 after purchasing an additional 240,000 shares during the last quarter. Centersquare Investment Management LLC raised its stake in shares of Kimco Realty by 76.8% during the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust's stock worth $269,531,000 after purchasing an additional 6,282,891 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings 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 valued at $221,740,000 after buying an additional 1,193,600 shares during the last quarter. Institutional investors and hedge funds 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.