Kimco Realty (NYSE:KIM) had its target price trimmed by Citigroup from $19.00 to $16.50 in a research report report published on Tuesday morning. The firm currently has a neutral rating on the real estate investment trust’s stock.
Other equities analysts also recently issued research reports about the company. Robert W. Baird reiterated a buy rating and set a $23.00 price target on shares of Kimco Realty in a research report on Friday, November 10th. Royal Bank of Canada reiterated a buy rating and set a $19.00 price target on shares of Kimco Realty in a research report on Friday, February 23rd. SunTrust Banks set a $18.00 price target on Kimco Realty and gave the stock a hold rating in a research report on Monday, January 22nd. Boenning Scattergood reiterated a hold rating on shares of Kimco Realty in a research report on Friday, February 16th. Finally, BMO Capital Markets set a $19.00 price target on Kimco Realty and gave the stock a hold rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $19.56.
Shares of Kimco Realty (KIM) opened at $14.85 on Tuesday. Kimco Realty has a one year low of $13.70 and a one year high of $24.60. The company has a quick ratio of 0.08, a current ratio of 0.09 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6,590.31, a PE ratio of 10.26, a PEG ratio of 3.19 and a beta of 0.46.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be given a $0.28 dividend. The ex-dividend date is Monday, April 2nd. This represents a $1.12 annualized dividend and a dividend yield of 7.54%. Kimco Realty’s dividend payout ratio (DPR) is presently 128.74%.
Kimco Realty declared that its board has authorized a stock repurchase plan on Thursday, February 15th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider Milton Cooper bought 50,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were acquired at an average price of $19.20 per share, for a total transaction of $960,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Lourenso sold 3,380 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $15.29, for a total value of $51,680.20. Following the completion of the transaction, the director now owns 182,481 shares in the company, valued at approximately $2,790,134.49. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Kimco Realty by 1.0% in the fourth quarter. BlackRock Inc. now owns 41,753,452 shares of the real estate investment trust’s stock valued at $757,825,000 after acquiring an additional 394,524 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kimco Realty by 11.7% in the fourth quarter. Bank of New York Mellon Corp now owns 18,745,745 shares of the real estate investment trust’s stock valued at $340,235,000 after acquiring an additional 1,959,743 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Kimco Realty by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 6,119,693 shares of the real estate investment trust’s stock valued at $119,639,000 after purchasing an additional 145,326 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of Kimco Realty by 13.9% in the third quarter. Cohen & Steers Inc. now owns 5,419,914 shares of the real estate investment trust’s stock valued at $105,959,000 after purchasing an additional 661,103 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Kimco Realty by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 5,238,449 shares of the real estate investment trust’s stock valued at $94,907,000 after purchasing an additional 203,914 shares during the last quarter. Institutional investors and hedge funds own 89.45% of the company’s stock.
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Kimco Realty 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 June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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