Kimco Realty (NYSE:KIM) Given New $24.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised its price target on Kimco Realty to $24.00 (from $23.50) and kept an "equal weight" rating, implying roughly a 1.99% upside from the current share price.
• Consensus among analysts sits at an average target of $24.73, with one Strong Buy, six Buys and eight Holds—a collective rating of Moderate Buy.
• Kimco shares traded at $23.53 (up 0.2%) with a market cap of $15.87B and a P/E of 29.06, putting the stock near its 52-week high of $23.91 and close to analyst targets.

Kimco Realty (NYSE:KIM - Get Free Report) had its price target lifted by analysts at Morgan Stanley from $23.50 to $24.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's target price suggests a potential upside of 1.99% from the stock's current price.

Other analysts have also issued research reports about the company. Mizuho set a $21.00 target price on Kimco Realty in a report on Friday, January 9th. JPMorgan Chase & Co. lifted their target price on Kimco Realty from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Wells Fargo & Company lifted their price objective on Kimco Realty from $21.00 to $25.00 and gave the stock an "equal weight" rating in a report on Thursday, March 19th. Scotiabank lifted their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 24th. Finally, Barclays reaffirmed an "overweight" rating and issued a $25.00 price objective on shares of Kimco Realty in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.73.

Kimco Realty Stock Up 0.2%

Shares of Kimco Realty stock traded up $0.05 on Thursday, reaching $23.53. The company's stock had a trading volume of 2,141,589 shares, compared to its average volume of 5,720,637. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 29.06, a P/E/G ratio of 1.32 and a beta of 1.03. The firm's fifty day simple moving average is $22.85 and its two-hundred day simple moving average is $21.50. Kimco Realty has a 52 week low of $19.59 and a 52 week high of $23.91. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.78.

Institutional Trading of Kimco Realty

Several large investors have recently modified their holdings of KIM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Kimco Realty by 59.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,247 shares of the real estate investment trust's stock worth $2,351,000 after acquiring an additional 41,265 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Kimco Realty by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 639,985 shares of the real estate investment trust's stock valued at $13,593,000 after purchasing an additional 38,554 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Kimco Realty during the first quarter valued at $61,000. Quantbot Technologies LP purchased a new position in Kimco Realty during the second quarter valued at $331,000. Finally, EverSource Wealth Advisors LLC lifted its position in Kimco Realty by 30.0% during the second quarter. EverSource Wealth Advisors LLC now owns 5,069 shares of the real estate investment trust's stock valued at $107,000 after purchasing an additional 1,170 shares in the last quarter. 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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