Wall Street Zen Downgrades Kimco Realty (NYSE:KIM) to Sell

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

A number of other analysts also recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. cut their target price on shares of Kimco Realty from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Mizuho dropped their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Piper Sandler dropped their target price on shares of Kimco Realty from $29.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Scotiabank lowered their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Kimco Realty has a consensus rating of "Hold" and a consensus target price of $24.68.

Kimco Realty Trading Down 0.2%

Shares of KIM traded down $0.04 on Friday, hitting $20.98. 1,201,805 shares of the stock traded hands, compared to its average volume of 4,473,616. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $14.19 billion, a P/E ratio of 37.44, a P/E/G ratio of 2.78 and a beta of 1.26. The stock's 50 day moving average is $20.59 and its two-hundred day moving average is $22.17. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The business had revenue of $536.62 million during the quarter, compared to analyst estimates of $520.68 million. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The business's revenue was up 965.3% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. As a group, sell-side analysts predict that Kimco Realty will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Kimco Realty during the 4th quarter valued at approximately $363,436,000. Northern Trust Corp grew its position in shares of Kimco Realty by 55.0% during the 4th quarter. Northern Trust Corp now owns 10,304,972 shares of the real estate investment trust's stock worth $241,446,000 after buying an additional 3,658,528 shares during the period. Federated Hermes Inc. grew its position in Kimco Realty by 90.5% in the 4th quarter. Federated Hermes Inc. now owns 7,278,480 shares of the real estate investment trust's stock valued at $170,535,000 after purchasing an additional 3,457,435 shares during the period. Amundi grew its position in Kimco Realty by 54.2% in the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock valued at $186,646,000 after purchasing an additional 3,253,031 shares during the period. Finally, Invesco Ltd. grew its position in Kimco Realty by 18.3% in the 4th quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust's stock valued at $407,301,000 after purchasing an additional 2,692,258 shares during the period. Institutional investors and hedge funds own 89.25% of the company's stock.

About Kimco Realty

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.