Scotiabank Issues Positive Forecast for Kimco Realty (NYSE:KIM) Stock Price

Key Points

• Scotiabank raised its price target on Kimco Realty from $22.00 to $24.00 while keeping a "sector perform" rating, implying about a 4.7% upside from the current price.
• Analysts have a consensus rating of "Moderate Buy" with a consensus price target of $24.70, based on 1 Strong Buy, 6 Buy and 7 Hold recommendations.
• Kimco shares traded at $22.93 (up ~1.0%), with a market cap of $15.46B, a 52-week range of $17.93–$23.91, and roughly 89.25% ownership by institutional investors.

Kimco Realty (NYSE:KIM - Get Free Report) had its price target increased by equities researchers at Scotiabank from $22.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price objective indicates a potential upside of 4.67% from the stock's current price.

KIM has been the topic of several other research reports. Evercore set a $24.00 price target on Kimco Realty in a research note on Friday, February 13th. Piper Sandler upped their price objective on Kimco Realty from $26.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 17th. UBS Group decreased their price objective on Kimco Realty from $30.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Wells Fargo & Company lifted their target price on Kimco Realty from $21.00 to $25.00 and gave the company an "equal weight" rating in a research report on Thursday, March 19th. Finally, JPMorgan Chase & Co. boosted their target price on Kimco Realty from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.70.

Kimco Realty Stock Up 1.0%

Shares of KIM stock traded up $0.23 during trading hours on Tuesday, hitting $22.93. 856,790 shares of the company were exchanged, compared to its average volume of 5,974,164. Kimco Realty has a 52 week low of $17.93 and a 52 week high of $23.91. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average of $22.22 and a two-hundred day moving average of $21.42. The company has a market capitalization of $15.46 billion, a PE ratio of 28.31, a PEG ratio of 1.25 and a beta of 1.04.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KIM. Old North State Trust LLC increased its position in shares of Kimco Realty by 37.3% during the 4th quarter. Old North State Trust LLC now owns 16,161 shares of the real estate investment trust's stock worth $328,000 after purchasing an additional 4,387 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Kimco Realty by 8.6% in the 4th quarter. Hsbc Holdings PLC now owns 3,587,902 shares of the real estate investment trust's stock valued at $72,724,000 after buying an additional 283,385 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Kimco Realty by 9.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 539,577 shares of the real estate investment trust's stock valued at $10,937,000 after buying an additional 48,672 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Kimco Realty by 5.6% in the fourth quarter. Corient Private Wealth LLC now owns 43,112 shares of the real estate investment trust's stock valued at $874,000 after buying an additional 2,302 shares in the last quarter. Finally, Reflection Asset Management acquired a new position in Kimco Realty during the fourth quarter worth $1,184,000. 89.25% of the stock is owned by institutional investors and hedge funds.

About Kimco Realty

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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