Kimco Realty (NYSE:KIM) Lowered to Hold Rating by Jefferies Financial Group

Jefferies Financial Group cut shares of Kimco Realty (NYSE:KIM) from a buy rating to a hold rating in a report published on Thursday, Marketbeat.com reports. They currently have $25.00 target price on the real estate investment trust’s stock, down from their previous target price of $28.00.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price objective for the company. in a report on Friday, December 20th. The Goldman Sachs Group lifted their price target on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Scotiabank boosted their price objective on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a report on Monday, November 25th. UBS Group increased their target price on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Evercore ISI lowered their price target on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Kimco Realty has an average rating of “Hold” and a consensus target price of $24.84.

Kimco Realty Stock Performance

NYSE:KIM opened at $23.17 on Thursday. Kimco Realty has a 1-year low of $17.57 and a 1-year high of $25.83. The stock has a market cap of $15.62 billion, a P/E ratio of 42.13, a PEG ratio of 3.22 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a 50-day moving average of $24.44 and a two-hundred day moving average of $22.88.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts expect that Kimco Realty will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.32%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is currently 181.82%.

Institutional Investors Weigh In On Kimco Realty

Several large investors have recently made changes to their positions in KIM. Natixis Advisors LLC increased its position in Kimco Realty by 35.6% in the 2nd quarter. Natixis Advisors LLC now owns 419,370 shares of the real estate investment trust’s stock valued at $8,161,000 after acquiring an additional 110,062 shares during the period. Rhumbline Advisers raised its stake in shares of Kimco Realty by 1.2% during the second quarter. Rhumbline Advisers now owns 1,306,054 shares of the real estate investment trust’s stock valued at $25,416,000 after purchasing an additional 14,954 shares in the last quarter. Wolverine Asset Management LLC lifted its holdings in Kimco Realty by 40.6% in the second quarter. Wolverine Asset Management LLC now owns 29,460 shares of the real estate investment trust’s stock worth $573,000 after purchasing an additional 8,511 shares during the period. TD Asset Management Inc grew its position in Kimco Realty by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 229,317 shares of the real estate investment trust’s stock valued at $4,463,000 after buying an additional 8,294 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its stake in Kimco Realty by 5.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 17,981 shares of the real estate investment trust’s stock valued at $350,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.