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

Key Points

• Kimco Realty Corporation (NYSE:KIM) has received a consensus rating of "Moderate Buy" from 16 research firms, with 9 analysts recommending a hold, 5 a buy, and 2 a strong buy.
• The average one-year price target for Kimco Realty stock among these brokerages is $24.57, reflecting varied target price adjustments from different firms.
• Kimco recently declared a quarterly dividend of $0.25 per share, which represents a 4.7% yield and indicates a dividend payout ratio of 120.48%.

Kimco Realty Corporation (NYSE:KIM - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.5667.

A number of research firms have issued reports on KIM. Raymond James Financial reduced their target price on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Monday, May 5th. Barclays assumed coverage on shares of Kimco Realty in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 price objective on the stock. Piper Sandler reduced their price objective on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Scotiabank reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently bought and sold shares of KIM. State Street Corp grew its position in Kimco Realty by 2.2% during the 2nd quarter. State Street Corp now owns 46,347,837 shares of the real estate investment trust's stock worth $974,232,000 after purchasing an additional 995,352 shares during the last quarter. Invesco Ltd. grew its position in Kimco Realty by 14.7% during the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock worth $423,441,000 after purchasing an additional 2,552,276 shares during the last quarter. Geode Capital Management LLC grew its position in Kimco Realty by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 18,679,552 shares of the real estate investment trust's stock worth $391,122,000 after purchasing an additional 260,928 shares during the last quarter. Resolution Capital Ltd grew its position in Kimco Realty by 13.7% during the 4th quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock worth $388,442,000 after purchasing an additional 1,992,550 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Kimco Realty by 8.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,132,059 shares of the real estate investment trust's stock worth $255,016,000 after purchasing an additional 924,761 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

Shares of KIM stock opened at $21.20 on Friday. The firm's 50 day moving average price is $21.29 and its 200-day moving average price is $21.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. Kimco Realty has a one year low of $17.93 and a one year high of $25.83. The firm has a market cap of $14.36 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.54 and a beta of 1.31.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. As a group, equities research analysts predict that Kimco Realty will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, September 5th. Kimco Realty's dividend payout ratio (DPR) is currently 120.48%.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America's largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

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