Kimco Realty (NYSE:KIM) Price Target Raised to $23.00

Kimco Realty (NYSE:KIM) had its price target increased by Truist Financial from $22.00 to $23.00 in a research report report published on Monday,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts have also commented on KIM. UBS Group dropped their target price on Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Evercore set a $24.00 price target on shares of Kimco Realty in a research report on Friday, February 13th. Citigroup dropped their price objective on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Barclays reiterated an “overweight” rating and issued a $25.00 price objective on shares of Kimco Realty in a research note on Tuesday, January 13th. Finally, Mizuho set a $21.00 target price on shares of Kimco Realty in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty currently has a consensus rating of “Moderate Buy” and an average target price of $24.70.

Kimco Realty Stock Down 0.7%

Kimco Realty stock opened at $22.41 on Monday. The business’s 50-day simple moving average is $22.30 and its two-hundred day simple moving average is $21.42. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The company has a market cap of $15.10 billion, a PE ratio of 27.66, a PEG ratio of 1.26 and a beta of 1.04. Kimco Realty has a fifty-two week low of $17.93 and a fifty-two week high of $23.91.

Kimco Realty Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Kimco Realty during the 4th quarter worth approximately $215,615,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Kimco Realty by 541.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust’s stock valued at $137,756,000 after purchasing an additional 5,322,009 shares during the period. Invesco Ltd. lifted its stake in shares of Kimco Realty by 34.9% in the 4th quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock valued at $344,933,000 after purchasing an additional 4,399,959 shares during the period. SG Americas Securities LLC boosted its holdings in Kimco Realty by 10,776.5% during the fourth quarter. SG Americas Securities LLC now owns 2,425,889 shares of the real estate investment trust’s stock worth $49,173,000 after buying an additional 2,403,585 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Kimco Realty by 200.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,574,515 shares of the real estate investment trust’s stock worth $72,455,000 after buying an additional 2,383,236 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Company Profile

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.