Kimco Realty Corporation (NYSE:KIM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Kimco Realty Corporation (NYSE:KIM) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $26.1176.

A number of analysts have recently commented on KIM shares. Weiss Ratings restated a “buy (b)” rating on shares of Kimco Realty in a research report on Friday, July 31st. Truist Financial boosted their target price on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Scotiabank raised their price target on shares of Kimco Realty from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 19th. Morgan Stanley lifted their price objective on Kimco Realty from $23.50 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Finally, Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research note on Sunday, April 26th.

Institutional Trading of Kimco Realty

Several institutional investors have recently made changes to their positions in KIM. BlackRock Inc. purchased a new stake in Kimco Realty in the second quarter valued at approximately $1,895,765,000. State Street Corp grew its stake in shares of Kimco Realty by 2.2% in the third quarter. State Street Corp now owns 47,382,410 shares of the real estate investment trust’s stock valued at $1,035,306,000 after buying an additional 1,034,573 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kimco Realty by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust’s stock valued at $386,617,000 after buying an additional 223,936 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Kimco Realty by 34.9% in the 4th quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock valued at $344,933,000 after buying an additional 4,399,959 shares during the period. Finally, Centersquare Investment Management LLC lifted its stake in Kimco Realty by 8.1% during the 4th quarter. Centersquare Investment Management LLC now owns 12,905,449 shares of the real estate investment trust’s stock worth $261,593,000 after acquiring an additional 970,276 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Shares of KIM opened at $24.44 on Friday. The business’s 50-day moving average is $25.19 and its two-hundred day moving average is $23.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.78 and a current ratio of 5.23. The company has a market capitalization of $16.39 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.68 and a beta of 0.95. Kimco Realty has a fifty-two week low of $19.76 and a fifty-two week high of $26.65.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Friday, September 4th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, September 4th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 4.6%. Kimco Realty’s dividend payout ratio (DPR) is presently 122.35%.

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.