Shares of Kimco Realty Corporation (NYSE:KIM) have received an average rating of “Buy” from the twenty analysts that are presently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $27.15.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Kimco Realty Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Boenning Scattergood restated a “hold” rating on shares of Kimco Realty Corporation in a research report on Friday, July 28th. TheStreet lowered shares of Kimco Realty Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, April 26th. Canaccord Genuity restated a “buy” rating and issued a $34.00 target price on shares of Kimco Realty Corporation in a research report on Thursday, April 27th. Finally, BidaskClub upgraded shares of Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research report on Thursday.
Shares of Kimco Realty Corporation (NYSE:KIM) traded down 2.30% on Wednesday, reaching $19.99. The company had a trading volume of 3,203,958 shares. The firm has a market capitalization of $8.51 billion, a PE ratio of 40.71 and a beta of 0.67. The company has a 50-day moving average price of $19.27 and a 200-day moving average price of $20.95. Kimco Realty Corporation has a 52-week low of $17.02 and a 52-week high of $30.71.
Kimco Realty Corporation (NYSE:KIM) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The firm had revenue of $292.84 million for the quarter, compared to analyst estimates of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 EPS. Equities research analysts forecast that Kimco Realty Corporation will post $0.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.27 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.40%. Kimco Realty Corporation’s dividend payout ratio (DPR) is presently 220.41%.
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In other news, Director Philip E. Coviello, Jr. bought 20,000 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was acquired at an average price of $17.37 per share, with a total value of $347,400.00. Following the completion of the purchase, the director now directly owns 41,045 shares of the company’s stock, valued at $712,951.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Kimco Realty Corporation by 2,779.7% in the first quarter. BlackRock Inc. now owns 39,861,866 shares of the real estate investment trust’s stock worth $880,549,000 after buying an additional 38,477,627 shares in the last quarter. Hamlin Capital Management LLC purchased a new position in shares of Kimco Realty Corporation during the second quarter worth $57,217,000. JPMorgan Chase & Co. increased its position in shares of Kimco Realty Corporation by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 35,695,241 shares of the real estate investment trust’s stock worth $788,509,000 after buying an additional 2,483,036 shares in the last quarter. FMR LLC increased its position in shares of Kimco Realty Corporation by 24.5% in the second quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock worth $224,251,000 after buying an additional 2,408,799 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Kimco Realty Corporation by 207.3% in the first quarter. Renaissance Technologies LLC now owns 2,456,829 shares of the real estate investment trust’s stock worth $54,271,000 after buying an additional 1,657,434 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.
About Kimco Realty Corporation
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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