Kimco Realty Corp. (KIM) Downgraded by Goldman Sachs Group Inc. to “Sell”
Several other research firms also recently weighed in on KIM. JPMorgan Chase & Co. upped their price target on Kimco Realty Corp. from $30.00 to $32.00 and gave the stock an overweight rating in a research note on Thursday, August 11th. Vetr downgraded Kimco Realty Corp. from a strong-buy rating to a buy rating and set a $33.15 price target on the stock. in a research note on Thursday, September 22nd. BTIG Research initiated coverage on Kimco Realty Corp. in a research note on Thursday, August 25th. They issued a buy rating and a $34.00 price target on the stock. Zacks Investment Research downgraded Kimco Realty Corp. from a hold rating to a sell rating in a research note on Wednesday, November 9th. Finally, Stifel Nicolaus downgraded Kimco Realty Corp. from a buy rating to a hold rating in a research note on Monday, October 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $31.67.
Shares of Kimco Realty Corp. (NYSE:KIM) opened at 26.04 on Tuesday. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 17.46 and a beta of 0.86. Kimco Realty Corp. has a 52 week low of $24.75 and a 52 week high of $32.24. The firm has a 50 day moving average price of $26.64 and a 200 day moving average price of $29.02.
Kimco Realty Corp. (NYSE:KIM) last posted its quarterly earnings results on Friday, October 28th. The real estate investment trust reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $285.08 million for the quarter, compared to the consensus estimate of $288.31 million. Kimco Realty Corp. had a return on equity of 12.62% and a net margin of 57.87%. During the same quarter in the prior year, the business posted $0.40 EPS. Equities analysts forecast that Kimco Realty Corp. will post $1.32 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Tuesday, January 3rd will be issued a $0.27 dividend. This is a boost from Kimco Realty Corp.’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, December 29th. Kimco Realty Corp.’s dividend payout ratio (DPR) is currently 67.55%.
A number of institutional investors have recently made changes to their positions in KIM. Advisors Asset Management Inc. boosted its position 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position 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 in the last quarter. Global X Management Co. LLC boosted its position 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 in the last quarter. Nuveen Fund Advisors LLC bought a new position in shares of Kimco Realty Corp. during the second quarter worth approximately $204,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new position in shares of Kimco Realty Corp. during the third quarter worth approximately $221,000. 90.77% of the stock is currently owned by institutional investors.
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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