Kimco Realty (NYSE:KIM) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Kimco Realty (NYSE:KIM) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other equities research analysts have also commented on the stock. Scotiabank decreased their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Piper Sandler decreased their price objective on shares of Kimco Realty from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Barclays began coverage on shares of Kimco Realty in a research note on Wednesday. They issued an “overweight” rating and a $25.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Finally, Raymond James Financial decreased their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.70.

Kimco Realty Stock Up 0.8%

Kimco Realty stock opened at $21.62 on Friday. Kimco Realty has a 1-year low of $17.93 and a 1-year high of $25.83. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The firm’s fifty day moving average price is $21.00 and its two-hundred day moving average price is $21.42. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 0.75.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. Kimco Realty had a net margin of 26.79% and a return on equity of 5.17%. The company had revenue of $536.62 million during the quarter, compared to the consensus estimate of $520.68 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue for the quarter was up 965.3% on a year-over-year basis. On average, equities research analysts predict that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Friday, June 6th. Kimco Realty’s dividend payout ratio is currently 129.87%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Compound Planning Inc. boosted its holdings in Kimco Realty by 3.4% in the 1st quarter. Compound Planning Inc. now owns 14,759 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 485 shares during the period. Keybank National Association OH boosted its holdings in Kimco Realty by 4.0% in the 4th quarter. Keybank National Association OH now owns 13,033 shares of the real estate investment trust’s stock worth $305,000 after buying an additional 496 shares during the period. GF Fund Management CO. LTD. boosted its holdings in Kimco Realty by 4.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 12,767 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 517 shares during the period. Global Assets Advisory LLC boosted its holdings in Kimco Realty by 5.4% in the 4th quarter. Global Assets Advisory LLC now owns 10,363 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 528 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Kimco Realty by 0.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 58,335 shares of the real estate investment trust’s stock worth $1,239,000 after buying an additional 530 shares during the period. 89.25% of the stock is owned by institutional investors.

About Kimco Realty

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.