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.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. Mizuho lowered their target price on shares of Kimco Realty from $27.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, July 21st. Credit Suisse Group initiated coverage on shares of Kimco Realty in a research note on Wednesday, June 22nd. They set an "outperform" rating and a $22.00 price target on the stock. Jefferies Financial Group lowered their target price on shares of Kimco Realty from $28.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, June 30th. Morgan Stanley lowered their target price on shares of Kimco Realty from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, July 15th. Finally, StockNews.com cut shares of Kimco Realty from a "hold" rating to a "sell" rating in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Kimco Realty currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.56.
Kimco Realty Stock Up 2.2 %
Shares of NYSE:KIM traded up $0.50 on Friday, reaching $23.35. The company had a trading volume of 3,120,849 shares, compared to its average volume of 3,345,839. Kimco Realty has a 52-week low of $18.52 and a 52-week high of $26.57. The firm's 50 day simple moving average is $20.73 and its 200-day simple moving average is $22.89. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $14.44 billion, a PE ratio of 19.46, a PEG ratio of 2.19 and a beta of 1.39.
Kimco Realty Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, September 8th. This is an increase from Kimco Realty's previous quarterly dividend of $0.20. Kimco Realty's payout ratio is presently 66.67%.