Kimco Realty (NYSE:KIM) PT Raised to $24.00

Kimco Realty (NYSE:KIM - Get Free Report) had its target price increased by research analysts at Truist Financial from $22.00 to $24.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price target indicates a potential upside of 3.63% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Piper Sandler restated an "overweight" rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Robert W. Baird increased their price objective on Kimco Realty from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Mizuho downgraded Kimco Realty from an "outperform" rating to a "neutral" rating and increased their price objective for the company from $20.00 to $23.00 in a report on Monday, August 19th. JPMorgan Chase & Co. increased 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. Finally, Scotiabank increased their price objective on Kimco Realty from $21.00 to $23.00 and gave the company a "sector perform" rating in a report on Monday. Nine 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 company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $23.13.

Kimco Realty Stock Performance

Shares of Kimco Realty stock remained flat at $23.16 during trading hours on Wednesday. The stock had a trading volume of 2,929,115 shares, compared to its average volume of 4,749,228. Kimco Realty has a twelve month low of $16.34 and a twelve month high of $23.53. The company's fifty day simple moving average is $20.94 and its two-hundred day simple moving average is $19.67. The company has a market cap of $15.61 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73.

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). Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The business had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. During the same period last year, the company earned $0.39 EPS. The business's revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts expect that Kimco Realty will post 1.6 earnings per share for the current fiscal year.

Insider Activity

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company's stock.

Institutional Trading of Kimco Realty

A number of institutional investors have recently bought and sold shares of the company. Truist Financial Corp boosted its position in Kimco Realty by 2.0% during the second quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust's stock worth $724,000 after purchasing an additional 746 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Kimco Realty in the second quarter worth $1,423,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Kimco Realty in the second quarter worth $3,194,000. Mackenzie Financial Corp raised its holdings in shares of Kimco Realty by 2.3% in the second quarter. Mackenzie Financial Corp now owns 67,604 shares of the real estate investment trust's stock worth $1,316,000 after acquiring an additional 1,528 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Kimco Realty by 146.6% in the second quarter. Millennium Management LLC now owns 1,477,297 shares of the real estate investment trust's stock worth $28,748,000 after acquiring an additional 878,217 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other 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.