Brokerages Set Kimco Realty Corporation (NYSE:KIM) Target Price at $24.18

Kimco Realty Corporation (NYSE:KIM) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $24.2333.

A number of equities research analysts have recently weighed in on KIM shares. Truist Financial dropped their target price on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Weiss Ratings raised shares of Kimco Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 5th. Mizuho set a $21.00 price objective on shares of Kimco Realty in a research note on Friday, January 9th. Evercore set a $24.00 price objective on shares of Kimco Realty in a report on Friday, February 13th. Finally, Piper Sandler increased their target price on shares of Kimco Realty from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 17th.

Hedge Funds Weigh In On Kimco Realty

Hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new position in Kimco Realty in the 3rd quarter valued at $27,000. Zions Bancorporation National Association UT grew its holdings in shares of Kimco Realty by 270.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,049 shares in the last quarter. City Holding Co. bought a new position in shares of Kimco Realty in the third quarter worth $30,000. Brown Lisle Cummings Inc. increased its position in shares of Kimco Realty by 127.3% in the fourth quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 840 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new position in Kimco Realty in the second quarter valued at about $37,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

KIM opened at $23.16 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31. The business has a fifty day simple moving average of $21.76 and a 200 day simple moving average of $21.38. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $23.91. The company has a market capitalization of $15.61 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 1.30 and a beta of 1.04.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, March 6th. Kimco Realty’s payout ratio is 128.40%.

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.