JPMorgan Chase & Co. Cuts Kimco Realty (NYSE:KIM) Price Target to $24.00

Kimco Realty (NYSE:KIM) had its target price lowered by JPMorgan Chase & Co. from $25.00 to $24.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird lifted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. UBS Group lifted their target price on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Evercore ISI dropped their target price on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Mizuho raised their price target on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group downgraded Kimco Realty from a “buy” rating to a “hold” rating and cut their price objective for the company from $28.00 to $25.00 in a report on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.83.

Kimco Realty Stock Up 0.4 %

KIM stock opened at $21.61 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The stock has a market capitalization of $14.57 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.78 and a beta of 1.50. Kimco Realty has a fifty-two week low of $17.57 and a fifty-two week high of $25.83. The business has a 50-day moving average of $22.67 and a 200-day moving average of $23.37.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. On average, sell-side analysts anticipate that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Friday, March 7th. Kimco Realty’s payout ratio is presently 178.57%.

Institutional Trading of Kimco Realty

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC bought a new stake in shares of Kimco Realty during the third quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in Kimco Realty during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in Kimco Realty in the 3rd quarter valued at $31,000. Brown Brothers Harriman & Co. grew its holdings in Kimco Realty by 78.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 575 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Kimco Realty during the 3rd quarter worth $37,000. 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.