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

Key Points

• Citigroup raised its Kimco Realty price target from $24 to $26 while maintaining a neutral rating, implying approximately 7.15% upside from the prior close.
• Analyst sentiment is generally positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $26.41; targets range from $26 at Wells Fargo to $31 at Piper Sandler.
• Kimco shares opened at $24.26 and are down 0.8%, while institutional investors hold a substantial 89.25% of the company’s stock.

Kimco Realty (NYSE:KIM - Get Free Report) had its price target increased by research analysts at Citigroup from $24.00 to $26.00 in a report released on Monday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. Citigroup's target price indicates a potential upside of 7.15% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus set a $28.00 target price on Kimco Realty in a report on Thursday, June 11th. Jefferies Financial Group upgraded shares of Kimco Realty to a "hold" rating in a research note on Friday, June 26th. Weiss Ratings restated a "buy (b)" rating on shares of Kimco Realty in a research report on Friday, July 31st. Piper Sandler lifted their price target on shares of Kimco Realty from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price target on Kimco Realty from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.41.

Kimco Realty Stock Down 0.8%

Shares of NYSE:KIM opened at $24.26 on Monday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.84. The firm's 50-day simple moving average is $25.19 and its 200-day simple moving average is $23.70. 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 $16.28 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.68 and a beta of 0.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Kimco Realty by 59.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,247 shares of the real estate investment trust's stock worth $2,351,000 after acquiring an additional 41,265 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Kimco Realty by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 639,985 shares of the real estate investment trust's stock worth $13,593,000 after buying an additional 38,554 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Kimco Realty during the 1st quarter valued at $61,000. Quantbot Technologies LP bought a new stake in shares of Kimco Realty in the 2nd quarter valued at approximately $331,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Kimco Realty by 30.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,069 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 1,170 shares during the period. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation NYSE: KIM is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company's portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco's core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.

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