UBS Group Issues Positive Forecast for Kimco Realty (NYSE:KIM) Stock Price

Key Points

• UBS raised its price target for Kimco Realty to $29 from $25 and maintained a Buy rating, implying 13.26% upside from the prior close.
• Analyst opinions are mixed, but the consensus rating is Moderate Buy, with a $26.12 average price target.
• Kimco narrowly beat quarterly EPS estimates at $0.47 versus $0.46, while revenue of $546.15 million came in below forecasts; revenue grew 3.9% year over year.

Kimco Realty (NYSE:KIM - Get Free Report) had its price objective raised by research analysts at UBS Group from $25.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. UBS Group's target price indicates a potential upside of 13.26% from the company's previous close.

KIM has been the subject of several other reports. Mizuho dropped their target price on shares of Kimco Realty from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, September 24th. Piper Sandler increased their price objective on shares of Kimco Realty from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Monday, November 2nd. Morgan Stanley lifted their target price on Kimco Realty from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 29th. Weiss Ratings cut shares of Kimco Realty from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Finally, Wells Fargo & Company lowered their target price on Kimco Realty from $26.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday, October 23rd. One research 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.12.

Kimco Realty Trading Down 0.3%

KIM traded down $0.07 on Wednesday, hitting $25.61. 5,910,901 shares of the company were exchanged, compared to its average volume of 5,330,373. 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 12 month low of $19.76 and a 12 month high of $26.65. The firm has a fifty day simple moving average of $23.27 and a two-hundred day simple moving average of $23.67. The stock has a market capitalization of $17.01 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.92 and a beta of 0.91.

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

Institutional Inflows and Outflows

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

About Kimco Realty

Kimco Realty Corporation is a real estate investment trust that owns and operates open-air shopping centers, with a focus on grocery-anchored properties and mixed-use developments. Its properties bring together grocery stores, retailers, restaurants and service businesses. Founded in 1958, Kimco has grown into a major U.S. retail real estate owner. Its portfolio serves communities across the United States, including markets in which its centers provide everyday shopping and services. Kimco is headquartered in Jericho, New York.

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