Kimco Realty Corporation (KIM) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Kimco Realty Corporation (NYSE:KIM) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday.

KIM has been the topic of several other reports. Barclays PLC cut their price objective on shares of Kimco Realty Corporation from $27.00 to $25.00 and set an overweight rating on the stock in a research report on Wednesday, March 22nd. TheStreet downgraded shares of Kimco Realty Corporation from a b- rating to a c rating in a research report on Wednesday, April 26th. Zacks Investment Research raised shares of Kimco Realty Corporation from a sell rating to a hold rating in a research report on Friday, February 24th. Citigroup Inc. cut their price objective on shares of Kimco Realty Corporation from $26.00 to $21.00 and set a neutral rating on the stock in a research report on Tuesday, May 9th. Finally, Evercore ISI raised shares of Kimco Realty Corporation from a hold rating to an outperform rating in a research report on Friday, March 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $29.06.

Analyst Recommendations for Kimco Realty Corporation (NYSE:KIM)

Kimco Realty Corporation (KIM) opened at 17.87 on Wednesday. Kimco Realty Corporation has a 52 week low of $17.02 and a 52 week high of $32.24. The company has a market cap of $7.61 billion, a P/E ratio of 28.28 and a beta of 0.68. The company’s 50-day moving average is $18.73 and its 200-day moving average is $22.59.

Kimco Realty Corporation (NYSE:KIM) last released its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.37 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.37. The firm had revenue of $293.60 million for the quarter, compared to the consensus estimate of $291.46 million. Kimco Realty Corporation had a net margin of 27.02% and a return on equity of 5.78%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. On average, analysts anticipate that Kimco Realty Corporation will post $0.59 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Thursday, July 6th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Monday, July 3rd. Kimco Realty Corporation’s payout ratio is currently 168.75%.

In other Kimco Realty Corporation news, Director Philip E. Coviello, Jr. bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average cost of $17.37 per share, with a total value of $347,400.00. Following the completion of the acquisition, the director now owns 41,045 shares in the company, valued at approximately $712,951.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip E. Coviello, Jr. bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average cost of $19.44 per share, with a total value of $145,800.00. Following the completion of the acquisition, the director now owns 41,045 shares of the company’s stock, valued at approximately $797,914.80. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Kimco Realty Corporation during the fourth quarter valued at approximately $14,108,000. ING Groep NV increased its stake in Kimco Realty Corporation by 56.8% in the fourth quarter. ING Groep NV now owns 24,485 shares of the real estate investment trust’s stock valued at $607,000 after buying an additional 8,871 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Kimco Realty Corporation by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,365 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 374 shares during the period. Dimensional Fund Advisors LP increased its stake in Kimco Realty Corporation by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,643,844 shares of the real estate investment trust’s stock valued at $141,996,000 after buying an additional 111,436 shares during the period. Finally, Tredje AP fonden increased its stake in Kimco Realty Corporation by 35.7% in the fourth quarter. Tredje AP fonden now owns 47,810 shares of the real estate investment trust’s stock valued at $1,216,000 after buying an additional 12,590 shares during the period. 90.52% of the stock is owned by institutional investors.

Kimco Realty Corporation 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 December 31, 2016, the Company had interests in 525 shopping center properties, aggregating 85.4 million square feet of gross leasable area (GLA), located in 34 states, Puerto Rico and Canada.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “KIM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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