Kimco Realty (NYSE:KIM) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler raised Kimco Realty’s price target from $27 to $30 and maintained an “overweight” rating, implying approximately 20.85% upside from the prior close.
• Kimco shares rose 1.2% to $24.82, while analysts collectively assigned the stock a “Moderate Buy” rating with a consensus price target of $25.88.
• Kimco slightly exceeded quarterly earnings expectations, reporting $0.47 in EPS versus the $0.46 consensus estimate; institutional investors own approximately 89.25% of the company’s stock.

Kimco Realty (NYSE:KIM - Get Free Report) had its price objective hoisted by equities researchers at Piper Sandler from $27.00 to $30.00 in a report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's target price suggests a potential upside of 20.85% from the stock's previous close.

KIM has been the topic of a number of other research reports. UBS Group cut their price objective on Kimco Realty from $29.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, October 9th. The Goldman Sachs Group set a $24.00 target price on Kimco Realty in a report on Wednesday, October 7th. Barclays lowered their target price on Kimco Realty from $28.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, September 28th. Weiss Ratings downgraded Kimco Realty from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Kimco Realty from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.88.

Kimco Realty Stock Up 1.2%

Shares of KIM traded up $0.30 during mid-day trading on Monday, hitting $24.82. 1,818,999 shares of the company's stock were exchanged, compared to its average volume of 5,208,156. The stock's 50-day moving average is $23.06 and its 200-day moving average is $23.50. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.81 and a current ratio of 3.81. Kimco Realty has a fifty-two week low of $19.76 and a fifty-two week high of $26.65. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 2.78 and a beta of 0.91.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Kimco Realty had a net margin of 34.06% and a return on equity of 7.16%. The firm had revenue of $546.15 million during the quarter, compared to analysts' expectations of $549.06 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business's quarterly revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Kimco Realty will post 1.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently made changes to their positions in KIM. BlackRock Inc. acquired a new stake in Kimco Realty during the second quarter worth approximately $1,895,765,000. Dimensional Fund Advisors LP grew its position in Kimco Realty by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,341,105 shares of the real estate investment trust's stock valued at $232,363,000 after buying an additional 152,242 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Kimco Realty during the second quarter worth about $235,111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Kimco Realty by 7,715.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,304,565 shares of the real estate investment trust's stock worth $159,821,000 after buying an additional 6,223,902 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Kimco Realty in the second quarter valued at $156,283,000. Institutional investors and hedge funds own 89.25% of the company's stock.

About Kimco Realty

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company's portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.

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