Kimco Realty (NYSE:KIM) Stock Gets Price Target Bump from UBS Group

Kimco Realty (NYSE:KIM) had its target price raised by investment analysts at UBS Group from $25.00 to $29.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. UBS Group‘s target price would suggest a potential upside of 13.26% from the stock’s previous close.

Several other research firms have also weighed in on KIM. Wells Fargo & Company decreased their target price on shares of Kimco Realty from $26.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, October 23rd. The Goldman Sachs Group set a $24.00 target price on Kimco Realty in a research report on Wednesday, October 7th. Truist Financial initiated coverage on Kimco Realty in a research report on Thursday, October 1st. They set a “hold” rating and a $24.00 price objective on the stock. Mizuho cut their target price on shares of Kimco Realty from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 24th. Finally, Piper Sandler raised their price target on Kimco Realty from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.12.

Kimco Realty Price Performance

Shares of NYSE KIM traded down $0.07 during trading on Wednesday, hitting $25.61. The company had a trading volume of 5,910,901 shares, compared to its average volume of 5,330,373. The firm has a market capitalization of $17.01 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.92 and a beta of 0.91. Kimco Realty has a fifty-two week low of $19.76 and a fifty-two week high of $26.65. The stock has a fifty day simple moving average of $23.27 and a two-hundred day simple moving average of $23.67. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.82.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $546.15 million during the quarter, compared to the consensus estimate of $549.06 million. Kimco Realty had a return on equity of 7.16% and a net margin of 34.06%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. On average, research analysts expect that Kimco Realty will post 1.85 earnings per share for the current year.

Hedge Funds Weigh In On Kimco Realty

A number of institutional investors and hedge funds have recently made changes to their positions in KIM. CX Institutional raised its position in Kimco Realty by 757.8% during the third quarter. CX Institutional now owns 61,535 shares of the real estate investment trust’s stock worth $1,367,000 after acquiring an additional 54,361 shares during the last quarter. Raiffeisen Bank International AG grew its holdings in shares of Kimco Realty by 9,783.7% during the 2nd quarter. Raiffeisen Bank International AG now owns 47,936 shares of the real estate investment trust’s stock worth $1,238,000 after purchasing an additional 47,451 shares during the period. Nykredit A S purchased a new position in shares of Kimco Realty in the 2nd quarter valued at $4,380,000. Cetera Investment Advisers lifted its stake in shares of Kimco Realty by 144.4% during the first quarter. Cetera Investment Advisers now owns 197,693 shares of the real estate investment trust’s stock worth $4,442,000 after purchasing an additional 116,811 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Kimco Realty in the 3rd quarter worth approximately $4,342,000. 89.25% of the stock is owned by institutional investors and hedge funds.

About Kimco Realty

Kimco Realty Corporation is a real estate investment trust that owns and operates open-air shopping centers, with a focus on grocery-anchored properties and mixed-use developments. Its properties bring together grocery stores, retailers, restaurants and service businesses. Founded in 1958, Kimco has grown into a major U.S. retail real estate owner. Its portfolio serves communities across the United States, including markets in which its centers provide everyday shopping and services. Kimco is headquartered in Jericho, New York.