Kimco Realty (NYSE:KIM) Upgraded to “Sell” by ValuEngine

ValuEngine upgraded shares of Kimco Realty (NYSE:KIM) from a strong sell rating to a sell rating in a research note released on Monday, ValuEngine reports.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets reaffirmed a hold rating and issued a $20.00 price target on shares of Kimco Realty in a research report on Sunday, February 2nd. Morgan Stanley upgraded Kimco Realty from an underweight rating to an equal weight rating and lifted their price target for the company from $16.00 to $20.00 in a research note on Tuesday, December 17th. BTIG Research lowered Kimco Realty from a buy rating to a neutral rating in a report on Monday, January 6th. Jefferies Financial Group assumed coverage on Kimco Realty in a research note on Wednesday, January 15th. They issued a hold rating and a $19.00 price objective for the company. Finally, Compass Point upgraded Kimco Realty from a sell rating to a neutral rating and set a $22.00 target price on the stock in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $19.97.

KIM traded up $0.32 during trading on Monday, hitting $19.25. 176,032 shares of the company’s stock were exchanged, compared to its average volume of 4,055,150. Kimco Realty has a fifty-two week low of $16.88 and a fifty-two week high of $21.86. The stock has a market cap of $7.93 billion, a P/E ratio of 24.08, a PEG ratio of 2.93 and a beta of 0.63. The business’s 50 day moving average is $19.90 and its two-hundred day moving average is $20.16.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.14). The business had revenue of $291.80 million for the quarter, compared to analyst estimates of $280.45 million. Kimco Realty had a net margin of 35.43% and a return on equity of 7.95%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, research analysts expect that Kimco Realty will post 1.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.82%. The ex-dividend date is Wednesday, April 1st. Kimco Realty’s dividend payout ratio (DPR) is presently 76.19%.

Hedge funds have recently modified their holdings of the business. Cohen & Steers Inc. increased its stake in Kimco Realty by 32.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,465,347 shares of the real estate investment trust’s stock valued at $216,737,000 after buying an additional 2,586,987 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in shares of Kimco Realty during the third quarter valued at approximately $45,927,000. Menora Mivtachim Holdings LTD. increased its position in shares of Kimco Realty by 108.7% during the third quarter. Menora Mivtachim Holdings LTD. now owns 3,779,600 shares of the real estate investment trust’s stock valued at $78,918,000 after acquiring an additional 1,969,000 shares during the last quarter. State Street Corp increased its position in shares of Kimco Realty by 5.4% during the third quarter. State Street Corp now owns 33,080,708 shares of the real estate investment trust’s stock valued at $690,725,000 after acquiring an additional 1,709,694 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Kimco Realty by 41.0% during the fourth quarter. Russell Investments Group Ltd. now owns 4,429,636 shares of the real estate investment trust’s stock worth $91,811,000 after acquiring an additional 1,287,312 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

About Kimco Realty

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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Analyst Recommendations for Kimco Realty (NYSE:KIM)

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