Kimco Realty (NYSE:KIM) Price Target Cut to $26.00 by Analysts at Piper Sandler

Key Points

• Piper Sandler has lowered its price target for Kimco Realty from $28.00 to $26.00, while maintaining an "overweight" rating, indicating a potential upside of 22.95% from the current stock price.
• Other brokerages, such as Raymond James and Scotiabank, have also reduced their price targets for Kimco Realty, with Scotiabank setting its target at $23.00.
• According to analysts, Kimco Realty has an average rating of "Moderate Buy" with an average target price of $24.57, as it continues to perform well with positive quarterly earnings results.

Kimco Realty (NYSE:KIM - Free Report) had its price objective decreased by Piper Sandler from $28.00 to $26.00 in a report published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the real estate investment trust's stock.

Several other brokerages also recently issued reports on KIM. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays began coverage on Kimco Realty in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price on the stock. Scotiabank lowered 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 research note on Wednesday, April 23rd. Finally, Raymond James Financial lowered their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Kimco Realty has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

Kimco Realty Price Performance

Shares of KIM stock traded down $0.16 during mid-day trading on Monday, hitting $21.04. 568,879 shares of the stock were exchanged, compared to its average volume of 4,885,830. The firm has a fifty day moving average of $21.28 and a 200 day moving average of $21.21. The company has a quick ratio of 3.47, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. The company has a market cap of $14.24 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. Kimco Realty has a 52-week low of $17.93 and a 52-week high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $525.18 million during the quarter, compared to analysts' expectations of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%. The business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Research analysts anticipate that Kimco Realty will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.8%. Kimco Realty's payout ratio is 120.48%.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors have recently bought and sold shares of KIM. Trust Co. of Toledo NA OH purchased a new stake in Kimco Realty during the 2nd quarter valued at $27,000. AlphaQuest LLC purchased a new position in shares of Kimco Realty during the 1st quarter worth about $29,000. Golden State Wealth Management LLC boosted its stake in shares of Kimco Realty by 177.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 911 shares during the period. Keystone Global Partners LLC bought a new position in Kimco Realty in the first quarter worth approximately $30,000. Finally, WASHINGTON TRUST Co acquired a new stake in Kimco Realty during the 1st quarter worth about $34,000. Institutional investors own 89.25% of the company's stock.

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.