Kimco Realty (NYSE:KIM) Price Target Cut to $24.00 by Analysts at Wells Fargo & Company

Kimco Realty (NYSE:KIM) had its price objective reduced by investment analysts at Wells Fargo & Company from $26.00 to $24.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.06% from the stock’s current price.

A number of other research firms have also issued reports on KIM. Evercore ISI lowered their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. UBS Group lifted their price objective on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Mizuho increased their target price on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Scotiabank lifted their price target on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. cut Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research report on Friday, December 20th. Eleven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Kimco Realty has an average rating of “Hold” and an average target price of $24.84.

Kimco Realty Stock Down 0.4 %

NYSE:KIM traded down $0.09 during trading hours on Wednesday, reaching $22.85. The company’s stock had a trading volume of 355,168 shares, compared to its average volume of 4,105,742. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 2.87 and a beta of 1.51. The business’s 50-day moving average is $23.71 and its 200-day moving average is $23.30. Kimco Realty has a one year low of $17.57 and a one year high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same quarter last year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts predict that Kimco Realty will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC bought a new stake in shares of Kimco Realty in the 3rd quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in Kimco Realty in the third quarter valued at about $31,000. Brooklyn Investment Group acquired a new position in Kimco Realty in the third quarter valued at about $37,000. Quarry LP bought a new stake in Kimco Realty during the third quarter worth about $51,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Kimco Realty in the fourth quarter valued at approximately $77,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

About Kimco Realty

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.