Kimco Realty (NYSE:KIM) Reaches New 1-Year High at $22.88

Kimco Realty Corp (NYSE:KIM - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $22.88 and last traded at $22.83, with a volume of 1865248 shares. The stock had previously closed at $22.49.

Wall Street Analysts Forecast Growth

• Bullish Technicals Say These 3 Large Caps are Buys

A number of research firms have issued reports on KIM. Piper Sandler reissued an "overweight" rating and issued a $29.00 target price (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Mizuho lowered Kimco Realty from an "outperform" rating to a "neutral" rating and raised their price target for the stock from $20.00 to $23.00 in a report on Monday. Robert W. Baird increased their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Raymond James raised Kimco Realty from a "market perform" rating to a "strong-buy" rating and set a $25.00 target price for the company in a report on Friday, August 16th. Finally, Truist Financial lowered their price target on shares of Kimco Realty from $23.00 to $22.00 and set a "hold" rating on the stock in a report on Monday, May 20th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kimco Realty presently has a consensus rating of "Moderate Buy" and an average price target of $22.73.

Read Our Latest Stock Analysis on KIM

Kimco Realty Trading Up 1.4 %

• Brixmor Property Group Is Breaking Out

The stock has a market cap of $15.37 billion, a P/E ratio of 42.83, a PEG ratio of 4.23 and a beta of 1.51. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. The stock's fifty day moving average price is $20.50 and its 200 day moving average price is $19.56.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The business's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Equities research analysts expect that Kimco Realty Corp will post 1.6 earnings per share for the current year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Thursday, September 5th. Kimco Realty's dividend payout ratio (DPR) is 181.13%.

Insiders Place Their Bets

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Analyst IMS Investment Management Services Ltd. boosted its stake in Kimco Realty by 157.1% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 167,422 shares of the real estate investment trust's stock worth $3,568,000 after purchasing an additional 102,300 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Kimco Realty by 2.9% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 342,244 shares of the real estate investment trust's stock worth $7,293,000 after acquiring an additional 9,500 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Kimco Realty by 71.0% during the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust's stock worth $3,531,000 after acquiring an additional 74,729 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Kimco Realty by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust's stock valued at $2,162,347,000 after acquiring an additional 7,931,013 shares during the last quarter. Finally, Evoke Wealth LLC purchased a new position in shares of Kimco Realty in the fourth quarter valued at $4,181,000. 89.25% of the stock is currently owned by institutional investors.

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.

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