Kimco Realty (NYSE:KIM) Downgraded by JPMorgan Chase & Co. to “Neutral”

Kimco Realty (NYSE:KIM) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Friday, Marketbeat reports. They currently have a $26.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.99% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird boosted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Compass Point increased their target price on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Finally, Evercore ISI upped their price target on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Kimco Realty Trading Down 1.2 %

Kimco Realty stock opened at $23.01 on Friday. Kimco Realty has a 12-month low of $17.57 and a 12-month high of $25.83. 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 stock has a market capitalization of $15.51 billion, a PE ratio of 41.84, a price-to-earnings-growth ratio of 3.20 and a beta of 1.50. The firm has a 50 day simple moving average of $24.56 and a 200-day simple moving average of $22.54.

Kimco Realty (NYSE:KIM) last issued its quarterly 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 firm had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. During the same period in the previous year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts expect that Kimco Realty will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC acquired a new stake in shares of Kimco Realty during the third quarter worth approximately $17,636,000. Synovus Financial Corp lifted its position in Kimco Realty by 6.2% in the 3rd quarter. Synovus Financial Corp now owns 42,579 shares of the real estate investment trust’s stock worth $989,000 after buying an additional 2,476 shares in the last quarter. Tidal Investments LLC lifted its position in Kimco Realty by 17.9% in the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 5,466 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kimco Realty during the 3rd quarter valued at $31,000. Finally, World Investment Advisors LLC purchased a new position in shares of Kimco Realty during the 3rd quarter valued at $269,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

About Kimco Realty

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.