Citigroup Cuts Kimco Realty (NYSE:KIM) Price Target to $21.00

Kimco Realty (NYSE:KIM) had its price target decreased by Citigroup from $27.00 to $21.00 in a report published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group cut Kimco Realty from a “buy” rating to a “hold” rating and reduced their target price for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Scotiabank cut their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Mizuho lowered their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Evercore ISI dropped their price target on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $20.95 on Monday. Kimco Realty has a twelve month low of $17.57 and a twelve month high of $25.83. The firm has a market capitalization of $14.23 billion, a PE ratio of 37.40, a P/E/G ratio of 2.78 and a beta of 1.53. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $21.90 and a two-hundred day moving average price of $23.23.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. Equities analysts forecast that Kimco Realty will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.25 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.77%. Kimco Realty’s payout ratio is currently 178.57%.

Institutional Trading of Kimco Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new stake in shares of Kimco Realty during the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new stake in Kimco Realty during the third quarter worth approximately $31,000. Brown Brothers Harriman & Co. raised its position in Kimco Realty by 78.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 575 shares during the period. Brooklyn Investment Group bought a new position in Kimco Realty during the third quarter valued at $37,000. Finally, Headlands Technologies LLC purchased a new stake in Kimco Realty in the 4th quarter worth about $45,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Company Profile

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.