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.
Kimco Realty Trading Up 2.2 %
Shares of Kimco Realty stock traded up $0.50 during midday trading on Friday, reaching $23.35. 3,120,771 shares of the company's stock traded hands, compared to its average volume of 4,902,959. The stock has a 50 day moving average of $20.72 and a 200-day moving average of $22.90. Kimco Realty has a 12 month low of $18.52 and a 12 month high of $26.57. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market cap of $14.44 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.17 and a beta of 1.39.
Kimco Realty Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a $0.22 dividend. This is a positive change from Kimco Realty's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.88 dividend on an annualized basis and a yield of 3.77%. Kimco Realty's payout ratio is 66.67%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on KIM. Mizuho dropped their price target 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. UBS Group lowered their price objective on Kimco Realty from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, July 25th. Compass Point cut their price target on Kimco Realty from $27.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, June 22nd. Barclays cut their price target on Kimco Realty from $30.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, July 15th. Finally, Morgan Stanley decreased their price objective on Kimco Realty from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.56.