Kimco Realty (NYSE:KIM) Price Target Cut to $24.00 by Analysts at Wells Fargo & Company

Kimco Realty (NYSE:KIM) had its target price reduced by equities researchers at Wells Fargo & Company from $26.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 5.93% from the company’s current price.

A number of other research firms also recently issued reports on KIM. UBS Group raised their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group cut shares of Kimco Realty from a “buy” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Robert W. Baird lifted their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. downgraded Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price target on the stock. in a research note on Friday, December 20th. Finally, Scotiabank lifted their price objective on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th. Ten 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.97.

Kimco Realty Stock Performance

KIM stock opened at $22.66 on Wednesday. The company has a 50 day moving average price of $23.66 and a 200 day moving average price of $23.30. Kimco Realty has a fifty-two week low of $17.57 and a fifty-two week high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The stock has a market capitalization of $15.27 billion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 2.87 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The firm had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. Analysts forecast that Kimco Realty will post 1.64 EPS for the current year.

Institutional Investors Weigh In On Kimco Realty

Large investors have recently made changes to their positions in the stock. Captrust Financial Advisors lifted its position in Kimco Realty by 3.4% in the 3rd quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock valued at $340,000 after acquiring an additional 482 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Kimco Realty by 2.5% in the third quarter. Coldstream Capital Management Inc. now owns 23,380 shares of the real estate investment trust’s stock valued at $544,000 after purchasing an additional 565 shares in the last quarter. CWM LLC boosted its position in shares of Kimco Realty by 4.7% during the third quarter. CWM LLC now owns 13,323 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 595 shares during the period. Savant Capital LLC grew its holdings in shares of Kimco Realty by 4.4% during the fourth quarter. Savant Capital LLC now owns 14,541 shares of the real estate investment trust’s stock worth $341,000 after buying an additional 611 shares in the last quarter. Finally, Truist Financial Corp raised its position in Kimco Realty by 2.0% in the 2nd quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust’s stock valued at $724,000 after buying an additional 746 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

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.