Kimco Realty (NYSE:KIM) Sets New 12-Month High – Still a Buy?

Kimco Realty Corporation (NYSE:KIM)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $23.47 and last traded at $23.3240, with a volume of 368526 shares. The stock had previously closed at $23.17.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. UBS Group cut their price objective on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Barclays reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Kimco Realty in a report on Tuesday, January 13th. Citigroup dropped their target price on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Finally, Scotiabank reduced their price target on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.18.

Kimco Realty Trading Down 0.5%

The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.31. The firm has a market cap of $15.70 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.31 and a beta of 1.07. The stock has a 50-day simple moving average of $21.13 and a two-hundred day simple moving average of $21.24.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 6th. This represents a $1.04 dividend on an annualized basis and a yield of 4.5%. Kimco Realty’s dividend payout ratio is 128.40%.

Institutional Investors Weigh In On Kimco Realty

A number of hedge funds have recently added to or reduced their stakes in KIM. Values First Advisors Inc. boosted its stake in shares of Kimco Realty by 1.7% in the 3rd quarter. Values First Advisors Inc. now owns 27,590 shares of the real estate investment trust’s stock worth $603,000 after buying an additional 450 shares during the last quarter. Quadrant Capital Group LLC increased its position in Kimco Realty by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust’s stock valued at $663,000 after acquiring an additional 503 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Kimco Realty by 11.2% in the third quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 520 shares during the period. EPG Wealth Management LLC lifted its holdings in Kimco Realty by 1.8% in the fourth quarter. EPG Wealth Management LLC now owns 30,771 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 530 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in Kimco Realty by 5.0% in the third quarter. Bleakley Financial Group LLC now owns 12,421 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 589 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.