Kimco Realty (NYSE:KIM) Price Target Raised to $26.00

Kimco Realty (NYSE:KIM) had its target price boosted by Citigroup from $24.00 to $26.00 in a research report released on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on KIM. Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a report on Sunday, April 26th. Evercore set a $25.00 target price on shares of Kimco Realty in a research note on Friday, May 1st. Jefferies Financial Group raised shares of Kimco Realty to a “hold” rating in a research report on Friday, June 26th. Scotiabank increased their price target on shares of Kimco Realty from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 19th. Finally, Barclays raised their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Kimco Realty Stock Up 0.8%

KIM opened at $24.15 on Monday. Kimco Realty has a fifty-two week low of $19.76 and a fifty-two week high of $26.65. The business has a 50-day moving average of $25.21 and a 200-day moving average of $23.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market capitalization of $16.20 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 2.56 and a beta of 0.95.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Friday, September 4th will be given a $0.28 dividend. This is an increase from Kimco Realty’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 4th. Kimco Realty’s dividend payout ratio (DPR) is 131.76%.

Hedge Funds Weigh In On Kimco Realty

Several large investors have recently made changes to their positions in KIM. Twin Tree Management LP bought a new stake in Kimco Realty during the 2nd quarter valued at approximately $2,146,000. Bank of Nova Scotia acquired a new stake in Kimco Realty in the 2nd quarter valued at approximately $3,079,000. Commerce Bank bought a new position in Kimco Realty in the 2nd quarter worth approximately $264,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kimco Realty during the second quarter worth approximately $586,000. Finally, Quantbot Technologies LP acquired a new position in shares of Kimco Realty during the second quarter worth approximately $4,336,000. Institutional investors and hedge funds 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.