Kimco Realty (NYSE:KIM) Downgraded by StockNews.com to “Sell”

Posted by MarketBeat News on Aug 2nd, 2022

StockNews.com downgraded shares of Kimco Realty (NYSE:KIM – Get Rating) from a hold rating to a sell rating in a report published on Monday.

A number of other brokerages have also recently commented on KIM. Compass Point decreased their price target on Kimco Realty from $27.00 to $22.00 and set a neutral rating on the stock in a research report on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on Kimco Realty from $26.00 to $23.00 in a research report on Monday, July 11th. Morgan Stanley decreased their price target on Kimco Realty from $25.00 to $22.00 and set an equal weight rating on the stock in a research report on Friday, July 15th. Mizuho decreased their price target on Kimco Realty from $27.00 to $23.00 and set a buy rating on the stock in a research report on Thursday, July 21st. Finally, UBS Group restated a maintains rating on shares of Kimco Realty in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kimco Realty has a consensus rating of Moderate Buy and an average price target of $24.65.

Kimco Realty Trading Down 1.9 %

KIM stock opened at $21.69 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.68 and a current ratio of 2.68. The company’s 50-day simple moving average is $20.94 and its 200 day simple moving average is $23.01. Kimco Realty has a 52 week low of $18.52 and a 52 week high of $26.57. The company has a market capitalization of $13.40 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.12 and a beta of 1.39.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.06%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, September 8th. Kimco Realty’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Trading of Kimco Realty

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Kimco Realty by 189.4% in the first quarter. Invesco Ltd. now owns 17,024,584 shares of the real estate investment trust’s stock worth $420,508,000 after acquiring an additional 11,141,918 shares during the period. State Street Corp lifted its stake in shares of Kimco Realty by 19.2% in the first quarter. State Street Corp now owns 44,220,642 shares of the real estate investment trust’s stock worth $1,092,250,000 after acquiring an additional 7,126,475 shares during the period. Vanguard Group Inc. lifted its stake in shares of Kimco Realty by 3.2% in the first quarter. Vanguard Group Inc. now owns 100,537,581 shares of the real estate investment trust’s stock worth $2,483,278,000 after acquiring an additional 3,081,151 shares during the period. BlackRock Inc. lifted its stake in shares of Kimco Realty by 5.0% in the fourth quarter. BlackRock Inc. now owns 55,140,654 shares of the real estate investment trust’s stock worth $1,359,219,000 after acquiring an additional 2,632,139 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Kimco Realty by 108.4% in the first quarter. Swiss National Bank now owns 2,669,866 shares of the real estate investment trust’s stock worth $65,946,000 after acquiring an additional 1,388,800 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

About Kimco Realty

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Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.