Kimco Realty (NYSE:KIM) Price Target Lowered to $26.00 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 - Get Free Report) had its price objective decreased by stock analysts at Piper Sandler from $28.00 to $26.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's price target indicates a potential upside of 22.95% from the stock's previous close.

A number of other brokerages have also weighed in on KIM. Raymond James Financial cut their price objective on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Monday, May 5th. Scotiabank cut their price objective on 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. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Barclays initiated coverage on Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.57.

Kimco Realty Price Performance

KIM stock traded up $0.41 during trading on Monday, reaching $21.15. The company's stock had a trading volume of 1,184,691 shares, compared to its average volume of 4,871,843. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $25.83. 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 capitalization of $14.31 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31. The company's fifty day moving average is $21.26 and its 200-day moving average is $21.22.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%. The business had revenue of $525.18 million during the quarter, compared to analyst estimates of $524.75 million. During the same quarter in the prior year, the business posted $0.41 EPS. Kimco Realty's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts expect that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kimco Realty

Institutional investors have recently bought and sold shares of the business. Trust Co. of Toledo NA OH purchased a new position in Kimco Realty during the second quarter valued at approximately $27,000. AlphaQuest LLC purchased a new position in Kimco Realty in the first quarter worth $29,000. Keystone Global Partners LLC purchased a new position in Kimco Realty in the first quarter worth $30,000. Golden State Wealth Management LLC grew its holdings in Kimco Realty by 177.6% in the first 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 last quarter. Finally, WASHINGTON TRUST Co purchased a new stake in shares of Kimco Realty during the first quarter valued at $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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