Kimco Realty (NYSE:KIM) Price Target Lowered to $28.00 at Piper Sandler

Kimco Realty (NYSE:KIM - Get Free Report) had its target price reduced by stock analysts at Piper Sandler from $29.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's price objective would indicate a potential upside of 35.08% from the company's previous close.

A number of other equities research analysts also recently commented on KIM. Scotiabank lowered 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. Raymond James reduced their price objective on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Monday. Wells Fargo & Company decreased their price target on Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Citigroup dropped their target price on Kimco Realty from $27.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, Mizuho lowered their price objective on Kimco Realty from $26.00 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.68.

Kimco Realty Price Performance

NYSE:KIM traded down $0.39 during mid-day trading on Monday, hitting $20.73. 1,703,578 shares of the company's stock traded hands, compared to its average volume of 4,424,091. The firm's 50 day simple moving average is $20.67 and its 200 day simple moving average is $22.53. The company has a market cap of $14.09 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KIM. Bailard Inc. bought a new position in shares of Kimco Realty in the first quarter worth $1,083,000. Bryn Mawr Capital Management LLC boosted its holdings in shares of Kimco Realty by 40.8% in the first quarter. Bryn Mawr Capital Management LLC now owns 286,357 shares of the real estate investment trust's stock valued at $6,082,000 after acquiring an additional 82,999 shares in the last quarter. MQS Management LLC acquired a new position in shares of Kimco Realty during the first quarter valued at approximately $683,000. New York State Common Retirement Fund lifted its position in Kimco Realty by 6.7% in the first quarter. New York State Common Retirement Fund now owns 384,840 shares of the real estate investment trust's stock worth $8,174,000 after purchasing an additional 24,000 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Kimco Realty by 0.8% during the 1st quarter. State of Michigan Retirement System now owns 184,333 shares of the real estate investment trust's stock valued at $3,915,000 after purchasing an additional 1,400 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

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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