Kimco Realty Corporation (NYSE:KIM) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Kimco Realty a “Moderate Buy” consensus: Of 17 analysts, seven rate the stock a buy, one a strong buy and nine a hold. The average 12-month price target is $26.56, versus a recent price of $24.05.
• Institutional ownership is substantial: Hedge funds and other institutions own 89.25% of Kimco Realty, with major recent purchases or stake increases from BlackRock, California State Teachers’ Retirement System, Norges Bank, Bank of America and UBS Asset Management.
• Quarterly results beat expectations and the dividend increased: Kimco reported quarterly EPS of $0.46 versus the $0.20 consensus estimate, while revenue rose 4.9% year over year to $550.8 million. The quarterly dividend was raised from $0.26 to $0.28, implying a 4.7% annualized yield.

Shares of Kimco Realty Corporation (NYSE:KIM - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $26.5556.

A number of analysts recently issued reports on KIM shares. Evercore set a $25.00 target price on Kimco Realty in a research note on Friday, May 1st. Citigroup lifted their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Jefferies Financial Group upgraded shares of Kimco Realty to a "hold" rating in a report on Friday, June 26th. Raymond James Financial reissued a "strong-buy" rating and set a $29.00 price objective on shares of Kimco Realty in a research report on Monday, June 29th. Finally, Truist Financial raised their price objective on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a "hold" rating in a report on Thursday, May 28th.

Institutional Trading of Kimco Realty

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Kimco Realty during the second quarter worth about $1,895,765,000. California State Teachers Retirement System grew its holdings in shares of Kimco Realty by 2,156.5% during the second quarter. California State Teachers Retirement System now owns 24,275,059 shares of the real estate investment trust's stock worth $615,373,000 after buying an additional 23,199,273 shares in the last quarter. Norges Bank acquired a new stake in Kimco Realty in the 4th quarter valued at approximately $215,615,000. Bank of America Corp DE acquired a new stake in Kimco Realty in the 2nd quarter valued at approximately $235,111,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Kimco Realty by 7,715.9% in 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 valued at $159,821,000 after acquiring an additional 6,223,902 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Stock Down 0.7%

NYSE:KIM opened at $24.05 on Wednesday. Kimco Realty has a 1 year low of $19.76 and a 1 year high of $26.65. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.84. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.58 and a beta of 0.95. The stock has a 50-day moving average price of $25.07 and a two-hundred day moving average price of $23.98.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.26. Kimco Realty had a return on equity of 5.76% and a net margin of 27.76%.The company had revenue of $550.80 million during the quarter, compared to the consensus estimate of $543.75 million. During the same period in the prior year, the company earned $0.44 earnings per share. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. Kimco Realty has set its FY 2026 guidance at 1.830-1.840 EPS. As a group, equities analysts expect that Kimco Realty will post 1.84 earnings per share for the current year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Friday, September 4th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, September 4th. This is a boost from Kimco Realty's previous quarterly dividend of $0.26. Kimco Realty's dividend payout ratio (DPR) is currently 122.35%.

About Kimco Realty

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source