Kimco Realty Corporation (NYSE:KIM) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Kimco Realty has a “Moderate Buy” consensus rating from 17 analysts, with seven buys, nine holds and one strong buy. The average 12-month price target is $26.12, modestly above the stock’s $25.48 price.
• Several brokerages recently raised their price targets, including Barclays to $28, Wells Fargo to $26, Scotiabank to $25 and Truist Financial to $25, though ratings ranged from hold to overweight.
• Kimco reported quarterly EPS of $0.46, topping estimates by $0.01, while revenue reached $558.02 million and rose 4% year over year. Institutional investors own approximately 89.25% of the company’s shares.

Kimco Realty Corporation (NYSE:KIM - Get Free Report) has received an average recommendation of "Moderate Buy" from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $26.1176.

Several research analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of Kimco Realty from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 19th. Barclays lifted their price objective on Kimco Realty from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Wells Fargo & Company increased their target price on Kimco Realty from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Weiss Ratings raised shares of Kimco Realty from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Truist Financial raised their price target on Kimco Realty from $23.00 to $25.00 and gave the company a "hold" rating in a research note on Thursday, May 28th.

Hedge Funds Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KIM. Zions Bancorporation National Association UT grew its stake in Kimco Realty by 270.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 1,049 shares during the last quarter. Root Financial Partners LLC increased its position in Kimco Realty by 60.7% during the 1st quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust's stock worth $32,000 after buying an additional 546 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in shares of Kimco Realty by 127.3% during the fourth quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust's stock worth $30,000 after buying an additional 840 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Kimco Realty during the second quarter worth $37,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Kimco Realty in the second quarter valued at about $42,000. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Down 0.1%

NYSE KIM opened at $25.48 on Friday. The stock has a market capitalization of $17.18 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.81 and a beta of 0.95. Kimco Realty has a 52 week low of $19.76 and a 52 week high of $26.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.78 and a current ratio of 3.78. The stock has a fifty day moving average of $25.14 and a 200-day moving average of $23.54.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $558.02 million for the quarter, compared to analysts' expectations of $542.73 million. Kimco Realty had a return on equity of 5.82% and a net margin of 28.54%.The firm's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. On average, equities research analysts forecast that Kimco Realty will post 1.83 EPS for the current year.

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.

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