Bank of America reissued their neutral rating on shares of Kimco Realty (NYSE:KIM - Free Report) in a report published on Friday, MarketBeat Ratings reports. Bank of America currently has a $20.00 price target on the real estate investment trust's stock, down from their previous price target of $24.00.
Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Kimco Realty in a research report on Tuesday, January 30th. They set a hold rating and a $23.00 price target for the company. Piper Sandler lifted their target price on shares of Kimco Realty from $24.00 to $26.00 and gave the stock an overweight rating in a research report on Wednesday, December 20th. Mizuho cut their target price on shares of Kimco Realty from $22.00 to $21.00 and set a buy rating for the company in a research report on Friday, February 23rd. Robert W. Baird cut their target price on shares of Kimco Realty from $23.00 to $21.00 and set an outperform rating for the company in a research report on Thursday. Finally, Citigroup reaffirmed a neutral rating and issued a $20.00 target price (down previously from $26.00) on shares of Kimco Realty in a research report on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $21.67.
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Kimco Realty Stock Down 0.5 %
Shares of KIM traded down $0.09 on Friday, hitting $18.51. 4,529,429 shares of the stock traded hands, compared to its average volume of 5,691,951. The company has a market capitalization of $12.48 billion, a PE ratio of 18.15, a P/E/G ratio of 3.64 and a beta of 1.45. The company has a debt-to-equity ratio of 0.79, a quick ratio of 5.05 and a current ratio of 5.05. The business has a 50 day simple moving average of $19.53 and a 200 day simple moving average of $19.29. Kimco Realty has a one year low of $16.34 and a one year high of $22.83.
Kimco Realty Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.19%. The ex-dividend date was Wednesday, March 6th. Kimco Realty's dividend payout ratio is presently 94.12%.
Insider Activity at Kimco Realty
In related news, Director Frank Lourenso sold 8,890 shares of Kimco Realty stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the transaction, the director now owns 203,534 shares in the company, valued at approximately $3,952,630.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.20% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Kimco Realty by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 102,336,566 shares of the real estate investment trust's stock valued at $2,180,792,000 after buying an additional 878,667 shares in the last quarter. BlackRock Inc. lifted its stake in Kimco Realty by 4.1% in the 1st quarter. BlackRock Inc. now owns 63,149,815 shares of the real estate investment trust's stock worth $1,233,316,000 after purchasing an additional 2,463,808 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Kimco Realty by 38.9% in the 2nd quarter. Cohen & Steers Inc. now owns 45,470,768 shares of the real estate investment trust's stock worth $896,676,000 after purchasing an additional 12,742,963 shares in the last quarter. State Street Corp lifted its stake in Kimco Realty by 19.2% in the 1st quarter. State Street Corp now owns 44,220,642 shares of the real estate investment trust's stock worth $1,092,250,000 after purchasing an additional 7,126,475 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Kimco Realty by 23.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust's stock worth $547,401,000 after purchasing an additional 5,894,446 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company's stock.
About Kimco Realty
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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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