Kimco Realty (NYSE:KIM) Sets New 1-Year High on Analyst Upgrade

Key Points

• Shares hit a new 52‑week high after Morgan Stanley raised its price target to $24 and multiple brokers lifted targets/ratings; MarketBeat's consensus is a “Moderate Buy” with an average target of $24.73.
• Dividend yield is 4.3% (quarterly $0.26, $1.04 annualized), but the payout ratio is elevated at 128.4%, which may raise sustainability concerns.
• Institutional ownership is 89.25%, with recent stake increases from firms like MIRAE Asset and UBS; the stock has a $16.26B market cap and a PE of 29.67.

Shares of Kimco Realty Corporation (NYSE:KIM - Get Free Report) hit a new 52-week high during trading on Friday after Morgan Stanley raised their price target on the stock from $23.50 to $24.00. Morgan Stanley currently has an equal weight rating on the stock. Kimco Realty traded as high as $24.01 and last traded at $24.0350, with a volume of 571188 shares changing hands. The stock had previously closed at $23.75.

Several other brokerages also recently commented on KIM. Scotiabank raised their target price on Kimco Realty from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 24th. Barclays reissued an "overweight" rating and issued a $25.00 price target on shares of Kimco Realty in a report on Tuesday, January 13th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. boosted their price objective on shares of Kimco Realty from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Finally, Evercore set a $24.00 target price on shares of Kimco Realty in a report on Friday, February 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. According to MarketBeat, Kimco Realty presently has an average rating of "Moderate Buy" and a consensus price target of $24.73.

Institutional Trading of Kimco Realty

A number of large investors have recently modified their holdings of KIM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 valued at $2,351,000 after purchasing an additional 41,265 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Kimco Realty by 6.4% in the 1st 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 worth $13,593,000 after buying an additional 38,554 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Kimco Realty in the 1st quarter worth $61,000. Quantbot Technologies LP bought a new position in shares of Kimco Realty in the 2nd quarter worth $331,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Kimco Realty by 30.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,069 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 1,170 shares in the last quarter. Institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The stock has a market cap of $16.26 billion, a PE ratio of 29.67, a PEG ratio of 1.31 and a beta of 1.03. The company's 50-day moving average price is $22.89 and its two-hundred day moving average price is $21.51.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Friday, March 6th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.04 annualized dividend and a yield of 4.3%. Kimco Realty's payout ratio is 128.40%.

Kimco Realty Company Profile

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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