Kimco Realty (KIM) Cut to Neutral at Robert W. Baird
Robert W. Baird cut shares of Kimco Realty (NYSE:KIM) from an outperform rating to a neutral rating in a research note released on Monday morning, MarketBeat.com reports. Robert W. Baird currently has $20.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $23.00.
A number of other research analysts have also recently issued reports on the stock. Argus cut shares of Kimco Realty from a buy rating to a hold rating in a report on Monday, August 28th. They noted that the move was a valuation call. BMO Capital Markets set a $21.00 price target on shares of Kimco Realty and gave the stock a hold rating in a report on Wednesday, October 25th. Mizuho reaffirmed a hold rating and issued a $19.00 price target on shares of Kimco Realty in a report on Monday, October 9th. Zacks Investment Research raised shares of Kimco Realty from a sell rating to a hold rating in a report on Tuesday, August 1st. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Kimco Realty in a report on Friday, October 27th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $23.37.
Kimco Realty (KIM) opened at $18.47 on Monday. The stock has a market cap of $7,789.46, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 2.12 and a beta of 0.65. Kimco Realty has a fifty-two week low of $17.02 and a fifty-two week high of $26.63. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.16.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.13). The company had revenue of $290.92 million during the quarter, compared to analysts’ expectations of $295.34 million. Kimco Realty had a return on equity of 7.73% and a net margin of 35.51%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS. sell-side analysts expect that Kimco Realty will post 1.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a $0.28 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.06%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.27. Kimco Realty’s dividend payout ratio is presently 125.58%.
Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Kimco Realty by 103.7% in the second quarter. Royal Bank of Canada now owns 126,830 shares of the real estate investment trust’s stock worth $2,327,000 after acquiring an additional 64,576 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Kimco Realty by 1.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,516,611 shares of the real estate investment trust’s stock worth $27,830,000 after acquiring an additional 14,883 shares during the period. GAM Holding AG increased its stake in shares of Kimco Realty by 10.2% in the second quarter. GAM Holding AG now owns 81,733 shares of the real estate investment trust’s stock worth $1,500,000 after acquiring an additional 7,585 shares during the period. Andra AP fonden increased its stake in shares of Kimco Realty by 40.1% in the second quarter. Andra AP fonden now owns 234,600 shares of the real estate investment trust’s stock worth $4,305,000 after acquiring an additional 67,200 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Kimco Realty by 26.2% in the second quarter. Goldman Sachs Group Inc. now owns 4,289,479 shares of the real estate investment trust’s stock worth $78,711,000 after acquiring an additional 891,461 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.
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About Kimco Realty
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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