Kimco Realty Corp. (KIM) Stock Rating Lowered by Stifel Nicolaus
Kimco Realty Corp. (NYSE:KIM) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Monday, The Fly reports.
Other equities research analysts have also issued reports about the company. Vetr lowered Kimco Realty Corp. from a “strong-buy” rating to a “buy” rating and set a $33.15 price target for the company. in a report on Thursday, September 22nd. Barclays PLC restated a “buy” rating and issued a $34.00 target price on shares of Kimco Realty Corp. in a report on Tuesday, July 19th. Canaccord Genuity boosted their target price on Kimco Realty Corp. from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. BTIG Research started coverage on Kimco Realty Corp. in a report on Thursday, August 25th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Deutsche Bank AG boosted their target price on Kimco Realty Corp. from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Wednesday, August 17th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Kimco Realty Corp. presently has an average rating of “Buy” and a consensus price target of $31.33.
Shares of Kimco Realty Corp. (NYSE:KIM) traded down 2.07% during trading on Monday, reaching $28.10. The company had a trading volume of 2,441,388 shares. The stock has a 50 day moving average price of $29.61 and a 200 day moving average price of $29.52. Kimco Realty Corp. has a 12 month low of $24.75 and a 12 month high of $32.24. The firm has a market capitalization of $11.80 billion, a PE ratio of 15.74 and a beta of 0.95.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, October 3rd. Kimco Realty Corp.’s dividend payout ratio is presently 56.98%.
In other news, Director Philip E. Coviello, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, August 8th. The shares were acquired at an average cost of $31.17 per share, for a total transaction of $31,170.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in KIM. Advisors Asset Management Inc. boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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 shares of Kimco Realty Corp. during the first quarter worth $203,000. Finally, Nuveen Fund Advisors LLC bought a new stake in shares of Kimco Realty Corp. during the second quarter worth $204,000. Hedge funds and other institutional investors own 93.67% of the company’s stock.
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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