Kimco Realty (NYSE:KIM) Sets New 52-Week High After Analyst Upgrade

Kimco Realty Corporation (NYSE:KIM)’s share price reached a new 52-week high on Tuesday after Piper Sandler raised their price target on the stock from $26.00 to $28.00. Piper Sandler currently has an overweight rating on the stock. Kimco Realty traded as high as $23.11 and last traded at $22.7830, with a volume of 179357 shares changing hands. The stock had previously closed at $22.71.

Other equities research analysts have also issued research reports about the company. Robert W. Baird set a $25.00 target price on Kimco Realty in a research note on Friday. Mizuho set a $21.00 price target on Kimco Realty in a research report on Friday, January 9th. Wells Fargo & Company cut their price objective on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, December 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Kimco Realty in a report on Thursday, January 22nd. Finally, Argus reiterated a “buy” rating and set a $27.00 price target on shares of Kimco Realty in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.17.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quent Capital LLC bought a new stake in Kimco Realty in the 3rd quarter worth approximately $27,000. Zions Bancorporation National Association UT increased its holdings in shares of Kimco Realty by 270.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,049 shares during the last quarter. City Holding Co. purchased a new stake in shares of Kimco Realty during the 3rd quarter valued at about $30,000. Brown Lisle Cummings Inc. raised its position in shares of Kimco Realty by 127.3% during the 4th quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 840 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Kimco Realty in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Up 0.0%

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.59. The company has a 50-day moving average of $20.78 and a 200 day moving average of $21.16. The company has a market cap of $15.39 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.07.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Friday, March 6th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, March 6th. Kimco Realty’s dividend payout ratio (DPR) is 128.40%.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.