Zacks Investment Research cut shares of Kimco Realty (NYSE:KIM) from a hold rating to a sell rating in a report released on Tuesday morning.

According to Zacks, “Shares of Kimco Realty have underperformed the industry it belongs to, in the past three months. Moreover, the stock has seen the Zacks Consensus Estimate for full-year 2017 funds from operations (FFO) per share being revised downward in a month’s time. Notably, decreasing footfall at malls amid shift of consumers toward online channels, store closures and bankruptcy of retailers are likely to hurt the performance of this retail REIT. Also, the dilutive impact on earnings from sale of assets cannot be bypassed in the near term. However, its redevelopment and development efforts, non-core asset dispositions and measures to enhance small shops portfolio have capacity to drive long-term growth.”

Other equities research analysts have also issued research reports about the company. Robert W. Baird reiterated a buy rating and issued a $23.00 target price on shares of Kimco Realty in a research note on Friday, November 10th. Mizuho set a $20.00 target price on Kimco Realty and gave the company a hold rating in a research note on Monday, December 18th. JPMorgan Chase & Co. lowered Kimco Realty from an overweight rating to a neutral rating and set a $20.00 target price for the company. in a research note on Friday, December 15th. Stifel Nicolaus assumed coverage on Kimco Realty in a research note on Thursday, November 30th. They issued a hold rating and a $19.50 target price for the company. Finally, BMO Capital Markets set a $21.00 target price on Kimco Realty and gave the company a hold rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $22.75.

Kimco Realty (NYSE:KIM) traded down $0.32 during trading on Tuesday, hitting $17.68. The stock had a trading volume of 6,021,400 shares, compared to its average volume of 5,560,133. The stock has a market cap of $7,661.76, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.19 and a beta of 0.65. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty has a 52 week low of $17.02 and a 52 week high of $26.16.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Friday, December 29th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.27. Kimco Realty’s dividend payout ratio (DPR) is 130.23%.

In other Kimco Realty news, insider Milton Cooper acquired 50,000 shares of the stock in a transaction on Monday, December 4th. The stock was purchased at an average price of $19.20 per share, for a total transaction of $960,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 2.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of KIM. Pacer Advisors Inc. grew its position in shares of Kimco Realty by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock worth $188,000 after acquiring an additional 790 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Kimco Realty by 1.3% in the 2nd quarter. Principal Financial Group Inc. now owns 650,437 shares of the real estate investment trust’s stock worth $11,936,000 after purchasing an additional 8,226 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Kimco Realty by 3.0% in the 2nd quarter. Swiss National Bank now owns 1,550,721 shares of the real estate investment trust’s stock worth $28,456,000 after purchasing an additional 44,700 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in shares of Kimco Realty in the 2nd quarter worth approximately $2,233,000. Finally, Westpac Banking Corp lifted its holdings in shares of Kimco Realty by 185.6% in the 2nd quarter. Westpac Banking Corp now owns 74,036 shares of the real estate investment trust’s stock worth $1,359,000 after purchasing an additional 48,110 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

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About Kimco Realty

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.

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