Kimco Realty Corp (NYSE:KIM) has been assigned an average rating of “Hold” from the twenty-one ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.52.
A number of research firms have recently issued reports on KIM. Stifel Nicolaus reissued a “hold” rating and issued a $17.00 target price on shares of Kimco Realty in a report on Thursday, February 1st. Evercore ISI lowered Kimco Realty from an “in-line” rating to an “underperform” rating in a report on Monday, March 5th. Boenning Scattergood reissued a “hold” rating on shares of Kimco Realty in a report on Friday, February 16th. Royal Bank of Canada reissued a “buy” rating and issued a $19.00 target price on shares of Kimco Realty in a report on Friday, February 23rd. Finally, ValuEngine lowered Kimco Realty from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.
Shares of NYSE:KIM traded down $0.41 during trading on Monday, reaching $13.99. The company had a trading volume of 4,090,248 shares, compared to its average volume of 5,726,174. The firm has a market cap of $6,126.56, a P/E ratio of 9.03, a PEG ratio of 2.96 and a beta of 0.50. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.16. Kimco Realty has a fifty-two week low of $13.69 and a fifty-two week high of $23.03.
Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21). The company had revenue of $310.63 million during the quarter, compared to analyst estimates of $297.92 million. Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. research analysts forecast that Kimco Realty will post 1.44 EPS for the current fiscal year.
Kimco Realty declared that its Board of Directors has authorized a share buyback program on Thursday, February 15th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date of this dividend is Monday, April 2nd. Kimco Realty’s dividend payout ratio is presently 72.26%.
In related news, Director Frank Lourenso sold 3,380 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $15.29, for a total transaction of $51,680.20. Following the transaction, the director now owns 182,481 shares of the company’s stock, valued at $2,790,134.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in KIM. RMR Advisors LLC grew its holdings in Kimco Realty by 24.5% in the fourth quarter. RMR Advisors LLC now owns 137,000 shares of the real estate investment trust’s stock valued at $2,487,000 after purchasing an additional 27,000 shares during the last quarter. BlackRock Inc. grew its holdings in Kimco Realty by 1.0% in the fourth quarter. BlackRock Inc. now owns 41,753,452 shares of the real estate investment trust’s stock valued at $757,825,000 after purchasing an additional 394,524 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Kimco Realty by 1.7% in the third quarter. Asset Management One Co. Ltd. now owns 1,634,172 shares of the real estate investment trust’s stock valued at $31,889,000 after purchasing an additional 27,116 shares during the last quarter. Toronto Dominion Bank grew its holdings in Kimco Realty by 13.6% in the fourth quarter. Toronto Dominion Bank now owns 183,352 shares of the real estate investment trust’s stock valued at $3,328,000 after purchasing an additional 21,889 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Kimco Realty by 41.1% in the third quarter. Wells Fargo & Company MN now owns 1,165,924 shares of the real estate investment trust’s stock valued at $22,793,000 after purchasing an additional 339,323 shares during the last quarter. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
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Kimco Realty Company Profile
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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