UBS Group Issues Positive Forecast for Kimco Realty (NYSE:KIM) Stock Price

Kimco Realty (NYSE:KIM) had its price objective upped by UBS Group from $25.00 to $29.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on the company. Citigroup upped their target price on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Truist Financial initiated coverage on shares of Kimco Realty in a research note on Thursday, October 1st. They set a “hold” rating and a $24.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Kimco Realty from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 29th. Weiss Ratings cut shares of Kimco Realty from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Piper Sandler upped their price objective on shares of Kimco Realty from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.12.

Kimco Realty Trading Down 0.3%

NYSE KIM opened at $25.61 on Wednesday. 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’s 50-day simple moving average is $23.30 and its two-hundred day simple moving average is $23.69. Kimco Realty has a twelve month low of $19.76 and a twelve month high of $26.65. The company has a market capitalization of $17.01 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 2.85 and a beta of 0.91.

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 analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $546.15 million during 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 company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. Research analysts forecast that Kimco Realty will post 1.85 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 4th. This represents a $1.12 annualized dividend and a yield of 4.4%. Kimco Realty’s dividend payout ratio is currently 104.67%.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Richardson Financial Services Inc. bought a new stake in Kimco Realty in the third quarter valued at approximately $31,000. IFP Advisors Inc grew its holdings in shares of Kimco Realty by 37.9% in the second quarter. IFP Advisors Inc now owns 1,738 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 478 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Kimco Realty by 41.9% in the second 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. International Assets Investment Management LLC purchased a new position in shares of Kimco Realty in the first quarter worth $79,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Kimco Realty in the second quarter worth $82,000. 89.25% of the stock is currently owned by institutional investors.

About Kimco Realty

Kimco Realty Corporation is a real estate investment trust that owns and operates open-air shopping centers, with a focus on grocery-anchored properties and mixed-use developments. Its properties bring together grocery stores, retailers, restaurants and service businesses. Founded in 1958, Kimco has grown into a major U.S. retail real estate owner. Its portfolio serves communities across the United States, including markets in which its centers provide everyday shopping and services. Kimco is headquartered in Jericho, New York.