Kimco Realty (KIM) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Kimco Realty (NYSE:KIM) from a buy rating to a hold rating in a report published on Sunday.

Several other research firms also recently weighed in on KIM. BMO Capital Markets began coverage on Kimco Realty in a research report on Monday, September 11th. They set a market perform rating and a $21.00 target price for the company. JPMorgan Chase & Co. upgraded Kimco Realty from a neutral rating to an overweight rating and set a $24.00 target price for the company in a research report on Tuesday, September 26th. Robert W. Baird reiterated a buy rating and set a $23.00 target price on shares of Kimco Realty in a research report on Friday, November 10th. Mizuho reiterated a hold rating and set a $19.00 target price on shares of Kimco Realty in a research report on Monday, October 9th. Finally, Stifel Nicolaus began coverage on Kimco Realty in a research report on Thursday, November 30th. They set a hold rating and a $19.50 target price for the company. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $22.75.

Shares of Kimco Realty (NYSE KIM) opened at $18.15 on Friday. Kimco Realty has a 52-week low of $17.02 and a 52-week high of $26.16. The stock has a market capitalization of $7,725.61, a price-to-earnings ratio of 21.10, a P/E/G ratio of 2.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.08 and a quick ratio of 0.08.

Kimco Realty (NYSE:KIM) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.13). Kimco Realty had a return on equity of 7.73% and a net margin of 35.51%. The business had revenue of $290.92 million for the quarter, compared to the consensus estimate of $295.34 million. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts anticipate that Kimco Realty will post 1.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 29th. This represents a $1.12 annualized dividend and a dividend yield of 6.17%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.27. Kimco Realty’s dividend payout ratio (DPR) is currently 125.58%.

In other news, insider Milton Cooper purchased 50,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average price of $19.20 per share, for a total transaction of $960,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in KIM. FMR LLC grew its stake in Kimco Realty by 24.5% in the second quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock valued at $224,251,000 after purchasing an additional 2,408,799 shares during the last quarter. American Century Companies Inc. purchased a new position in Kimco Realty in the third quarter valued at about $44,360,000. BlackRock Inc. grew its stake in Kimco Realty by 3.8% in the second quarter. BlackRock Inc. now owns 41,368,865 shares of the real estate investment trust’s stock valued at $759,119,000 after purchasing an additional 1,506,999 shares during the last quarter. Hamlin Capital Management LLC grew its stake in Kimco Realty by 38.9% in the third quarter. Hamlin Capital Management LLC now owns 4,330,610 shares of the real estate investment trust’s stock valued at $84,663,000 after purchasing an additional 1,212,542 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its stake in Kimco Realty by 4,014.9% in the second quarter. Commonwealth Bank of Australia now owns 1,147,429 shares of the real estate investment trust’s stock valued at $21,054,000 after purchasing an additional 1,119,544 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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Kimco Realty Company Profile

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.

Analyst Recommendations for Kimco Realty (NYSE:KIM)

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