Kimco Realty (NYSE:KIM) Given New $30.00 Price Target at Piper Sandler

Kimco Realty (NYSE:KIM) had its target price hoisted by stock analysts at Piper Sandler from $27.00 to $30.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler‘s target price points to a potential upside of 20.85% from the stock’s previous close.

Several other research firms have also issued reports on KIM. Wells Fargo & Company dropped their price objective on shares of Kimco Realty from $26.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, October 23rd. Morgan Stanley upped their target price on Kimco Realty from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 29th. Citigroup increased their target price on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Weiss Ratings downgraded Kimco Realty from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Truist Financial initiated coverage on Kimco Realty in a research report on Thursday, October 1st. They set a “hold” rating and a $24.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.88.

Kimco Realty Price Performance

Shares of KIM traded up $0.30 during trading hours on Monday, reaching $24.82. 1,818,999 shares of the company traded hands, compared to its average volume of 5,208,156. The stock has a market capitalization of $16.50 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Kimco Realty has a fifty-two week low of $19.76 and a fifty-two week high of $26.65. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $23.06 and a 200 day simple moving average of $23.50.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $546.15 million for the quarter, compared to analysts’ expectations of $549.06 million. Kimco Realty had a return on equity of 7.16% and a net margin of 34.06%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, research analysts predict that Kimco Realty will post 1.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Kimco Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KIM. Richardson Financial Services Inc. purchased a new stake in shares of Kimco Realty during the third quarter worth about $31,000. Root Financial Partners LLC boosted its holdings in Kimco Realty by 60.7% in the first quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 546 shares during the last quarter. IFP Advisors Inc grew its stake in Kimco Realty by 37.9% during the 2nd quarter. IFP Advisors Inc now owns 1,738 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 478 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Kimco Realty by 41.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,867 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 847 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Kimco Realty during the 1st quarter worth approximately $79,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

About Kimco Realty

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company’s portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.