Kimco Realty (NYSE:KIM) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo & Company initiated coverage on Kimco Realty with an "equal weight" rating and a price target of $23.00, suggesting a potential upside of 4.47% from the previous close.
• Various analysts have provided a mix of ratings for Kimco Realty, with one analyst giving it a "Strong Buy," five an overall "Buy," and the average target price set at $24.92.
• Kimco Realty's recent earnings report showed an EPS of $0.44, beating estimates, along with a revenue increase of 5.0% year-over-year.

Equities research analysts at Wells Fargo & Company initiated coverage on shares of Kimco Realty (NYSE:KIM - Get Free Report) in a research report issued on Tuesday. The brokerage set an "equal weight" rating and a $23.00 price target on the real estate investment trust's stock. Wells Fargo & Company's price objective would suggest a potential upside of 4.47% from the company's previous close.

Several other equities research analysts also recently weighed in on the company. Evercore ISI increased their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Monday, September 8th. LADENBURG THALM/SH SH started coverage on Kimco Realty in a research report on Tuesday, September 9th. They set a "buy" rating and a $27.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kimco Realty in a research report on Wednesday, October 8th. Piper Sandler cut their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Barclays increased their price target on Kimco Realty from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.92.

Kimco Realty Price Performance

NYSE KIM opened at $22.02 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. The stock's fifty day moving average price is $21.84 and its 200 day moving average price is $21.26. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $25.83. The company has a market cap of $14.91 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.59 and a beta of 1.30.

Kimco Realty (NYSE:KIM - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The firm's revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. As a group, equities research analysts forecast that Kimco Realty will post 1.71 earnings per share for the current year.

Insider Activity

In other news, Director Mary Hogan Preusse sold 23,100 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $21.66, for a total transaction of $500,346.00. Following the sale, the director directly owned 40,260 shares of the company's stock, valued at $872,031.60. This represents a 36.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Co. of Toledo NA OH purchased a new position in Kimco Realty in the 2nd quarter valued at about $27,000. AlphaQuest LLC purchased a new position in Kimco Realty in the 1st quarter valued at about $29,000. Golden State Wealth Management LLC lifted its stake in Kimco Realty by 177.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 911 shares in the last quarter. Keystone Global Partners LLC purchased a new position in Kimco Realty in the 1st quarter valued at about $30,000. Finally, WASHINGTON TRUST Co purchased a new position in Kimco Realty in the 1st quarter valued at about $34,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

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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