A number of other analysts have also recently weighed in on KIM. JPMorgan Chase & Co. increased their price objective on shares of Kimco Realty Corp. from $30.00 to $32.00 and gave the stock an overweight rating in a report on Thursday, August 11th. BTIG Research started coverage on shares of Kimco Realty Corp. in a research report on Thursday, August 25th. They issued a buy rating and a $34.00 target price for the company. Vetr upgraded shares of Kimco Realty Corp. from a buy rating to a strong-buy rating and set a $33.15 target price for the company in a research report on Monday, September 12th. RBC Capital Markets reiterated an outperform rating and issued a $34.00 target price (up previously from $31.00) on shares of Kimco Realty Corp. in a research report on Monday, August 1st. Finally, Boenning Scattergood started coverage on shares of Kimco Realty Corp. in a research report on Tuesday, June 28th. They issued a neutral rating for the company. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $31.33.
Kimco Realty Corp. (NYSE:KIM) opened at 27.81 on Monday. Kimco Realty Corp. has a 52-week low of $24.75 and a 52-week high of $32.24. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 15.58 and a beta of 0.95. The stock has a 50 day moving average of $29.50 and a 200-day moving average of $29.51.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Wednesday, October 5th will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, October 3rd. Kimco Realty Corp.’s payout ratio is 56.98%.
In other news, Director Philip E. Coviello, Jr. bought 1,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was bought at an average cost of $31.17 per share, for a total transaction of $31,170.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in Kimco Realty Corp. by 66.5% in the second quarter. Advisors Asset Management Inc. now owns 3,329 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,329 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Kimco Realty Corp. by 38.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,367 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 942 shares during the period. Global X Management Co. LLC raised its stake in Kimco Realty Corp. by 160.2% in the second quarter. Global X Management Co. LLC now owns 3,700 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 2,278 shares during the period. Magnetar Financial LLC bought a new stake in Kimco Realty Corp. during the first quarter worth about $203,000. Finally, Nuveen Fund Advisors LLC bought a new stake in Kimco Realty Corp. during the second quarter worth about $204,000. 93.67% of the stock is owned by institutional investors and hedge funds.
Kimco Realty Corp. Company Profile
Kimco Realty Corporation is a real estate investment trust. The Company is engaged principally in the ownership, management, development and operation of open-air shopping centers. The Company holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area (GLA), located in approximately 40 states of the United States, Puerto Rico and Canada.
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