Kimco Realty (NYSE:KIM) Stock Rating Lowered by Mizuho

Mizuho downgraded shares of Kimco Realty (NYSE:KIM - Free Report) from an outperform rating to a neutral rating in a report released on Monday morning, Marketbeat.com reports. The brokerage currently has $23.00 price objective on the real estate investment trust's stock, up from their prior price objective of $20.00.

KIM has been the subject of several other reports. Raymond James raised 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. Robert W. Baird raised their target price on Kimco Realty from $21.00 to $23.00 and gave the company an outperform rating in a report on Thursday, August 8th. Piper Sandler reissued an overweight rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Truist Financial reduced their target price on Kimco Realty from $23.00 to $22.00 and set a hold rating for the company in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. raised their target price on Kimco Realty from $22.00 to $24.00 and gave the company an overweight rating in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $22.73.

Kimco Realty Stock Performance

Shares of KIM stock traded up $0.01 during trading hours on Monday, hitting $22.30. The stock had a trading volume of 2,460,560 shares, compared to its average volume of 4,801,609. The firm has a market capitalization of $15.03 billion, a PE ratio of 42.06, a PEG ratio of 4.23 and a beta of 1.51. Kimco Realty has a twelve month low of $16.34 and a twelve month high of $22.83. The stock's 50 day moving average is $20.34 and its 200 day moving average is $19.53. 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 posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm 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 revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, research analysts forecast that Kimco Realty will post 1.6 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Thursday, September 5th. Kimco Realty's dividend payout ratio is presently 181.13%.

Insider Buying and Selling

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction dated 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 sale, the chief operating officer now owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Kimco Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kimelman & Baird LLC purchased a new stake in Kimco Realty in the 2nd quarter valued at about $1,423,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Kimco Realty in the 2nd quarter valued at about $3,194,000. Mackenzie Financial Corp lifted its stake in shares of Kimco Realty by 2.3% in the 2nd quarter. Mackenzie Financial Corp now owns 67,604 shares of the real estate investment trust's stock valued at $1,316,000 after purchasing an additional 1,528 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Kimco Realty by 146.6% in the 2nd quarter. Millennium Management LLC now owns 1,477,297 shares of the real estate investment trust's stock valued at $28,748,000 after purchasing an additional 878,217 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of Kimco Realty in the 2nd quarter valued at about $880,000. Hedge funds and other institutional investors 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.