Credit Suisse Group Initiates Coverage on Kimco Realty (NYSE:KIM)

Investment analysts at Credit Suisse Group started coverage on shares of Kimco Realty (NYSE:KIMGet Rating) in a note issued to investors on Wednesday, The Fly reports. The firm set an “outperform” rating and a $22.00 price target on the real estate investment trust’s stock. Credit Suisse Group’s price target would suggest a potential upside of 12.47% from the company’s current price.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Compass Point cut their target price on Kimco Realty from $27.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley lowered shares of Kimco Realty from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $26.00 to $26.50 in a report on Wednesday, March 30th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.66.

Shares of NYSE KIM opened at $19.56 on Wednesday. The firm has a market cap of $12.09 billion, a PE ratio of 11.78, a P/E/G ratio of 1.84 and a beta of 1.37. Kimco Realty has a 12-month low of $18.52 and a 12-month high of $26.57. The company’s fifty day simple moving average is $23.04 and its 200 day simple moving average is $23.68. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.73.

In other Kimco Realty news, CFO Glenn Gary Cohen sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $25.07, for a total value of $250,700.00. Following the completion of the transaction, the chief financial officer now owns 486,240 shares in the company, valued at $12,190,036.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP purchased a new stake in shares of Kimco Realty in the third quarter valued at approximately $30,000. US Asset Management LLC acquired a new position in Kimco Realty in the first quarter valued at $40,000. First Horizon Advisors Inc. increased its stake in Kimco Realty by 1,213.0% in the first quarter. First Horizon Advisors Inc. now owns 1,812 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,674 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of Kimco Realty by 230.6% in the 1st quarter. CVA Family Office LLC now owns 1,835 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,280 shares during the period. Finally, National Bank of Canada FI acquired a new stake in shares of Kimco Realty in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Kimco Realty (Get Rating)

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.

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