Kimco Realty (NYSE:KIM) Price Target Raised to $31.00

Kimco Realty (NYSE:KIM) had its price objective raised by Piper Sandler from $28.00 to $31.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other analysts have also commented on the stock. Jefferies Financial Group raised shares of Kimco Realty to a “hold” rating in a research report on Friday, June 26th. Truist Financial increased their price objective on Kimco Realty from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Wolfe Research raised Kimco Realty from a “peer perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research note on Monday, June 22nd. Scotiabank lifted their target price on Kimco Realty from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 19th. Finally, UBS Group upped their price target on Kimco Realty from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.12.

Kimco Realty Stock Performance

Shares of Kimco Realty stock opened at $25.75 on Tuesday. Kimco Realty has a one year low of $19.76 and a one year high of $26.45. The company has a market cap of $17.37 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 2.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.78 and a current ratio of 3.78. The business’s 50 day moving average price is $24.86 and its 200 day moving average price is $23.33.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. Kimco Realty had a return on equity of 5.82% and a net margin of 28.54%.The business had revenue of $558.02 million for the quarter, compared to analyst estimates of $542.73 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Kimco Realty has set its FY 2026 guidance at 1.810-1.840 EPS. On average, research analysts predict that Kimco Realty will post 1.83 EPS for the current year.

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a $0.26 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. Kimco Realty’s payout ratio is 120.93%.

Hedge Funds Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp boosted its holdings in Kimco Realty by 4,368.2% in the fourth quarter. M&T Bank Corp now owns 791,494 shares of the real estate investment trust’s stock valued at $16,044,000 after purchasing an additional 773,780 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in Kimco Realty during the fourth quarter worth approximately $900,000. Geode Capital Management LLC raised its holdings in Kimco Realty by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust’s stock worth $386,617,000 after purchasing an additional 223,936 shares in the last quarter. Strs Ohio lifted its position in shares of Kimco Realty by 566.3% during the 1st quarter. Strs Ohio now owns 722,282 shares of the real estate investment trust’s stock worth $16,230,000 after buying an additional 613,876 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Kimco Realty by 7.5% during the 4th quarter. Legal & General Group Plc now owns 6,323,989 shares of the real estate investment trust’s stock worth $128,187,000 after buying an additional 443,046 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

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.