Kimco Realty (NYSE:KIM) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Kimco Realty from a "hold" to a "sell" in a report released Saturday.
• Despite that downgrade, the analyst consensus remains a "Moderate Buy" with a consensus target price of about $24.73 and several firms raising targets to $25.
• Kimco shares opened at $24.18 (near its one‑year high of $24.25), the company has a $16.3B market cap and a P/E of ~29.9, and institutional investors own roughly 89.25% of the stock with recent added positions.

Kimco Realty (NYSE:KIM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other equities analysts have also commented on KIM. Robert W. Baird set a $25.00 price objective on Kimco Realty in a research note on Friday, February 13th. Barclays restated an "overweight" rating and set a $25.00 target price on shares of Kimco Realty in a research report on Tuesday, January 13th. JPMorgan Chase & Co. upped their target price on Kimco Realty from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. Scotiabank upped their target price on Kimco Realty from $22.00 to $24.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 24th. Finally, Wells Fargo & Company upped their target price on Kimco Realty from $21.00 to $25.00 and gave the company an "equal weight" rating in a research report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Kimco Realty currently has an average rating of "Moderate Buy" and a consensus target price of $24.73.

Kimco Realty Price Performance

Kimco Realty stock opened at $24.18 on Friday. The stock's 50 day moving average is $22.94 and its 200 day moving average is $21.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31. The firm has a market cap of $16.30 billion, a P/E ratio of 29.85, a P/E/G ratio of 1.33 and a beta of 1.03. Kimco Realty has a one year low of $19.59 and a one year high of $24.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its holdings in Kimco Realty by 94.1% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 70,662 shares of the real estate investment trust's stock worth $1,544,000 after acquiring an additional 34,251 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of Kimco Realty by 1.6% in the third quarter. Centersquare Investment Management LLC now owns 11,935,173 shares of the real estate investment trust's stock worth $260,784,000 after purchasing an additional 188,261 shares during the last quarter. AE Wealth Management LLC purchased a new stake in shares of Kimco Realty in the third quarter worth approximately $4,653,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Kimco Realty in the fourth quarter worth approximately $900,000. Finally, Kettle Hill Capital Management LLC purchased a new stake in shares of Kimco Realty in the third quarter worth approximately $14,921,000. Institutional investors own 89.25% of the company's stock.

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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