Kimco Realty (KIM) Reaches New 12-Month Low at $16.74

Shares of Kimco Realty Corp (NYSE:KIM) hit a new 52-week low on Friday . The company traded as low as $16.74 and last traded at $17.01, with a volume of 2620800 shares. The stock had previously closed at $17.13.

KIM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded Kimco Realty from a “neutral” rating to an “overweight” rating and set a $24.00 price objective on the stock in a research note on Tuesday, September 26th. Zacks Investment Research lowered Kimco Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. ValuEngine lowered Kimco Realty from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Boenning Scattergood reiterated a “hold” rating on shares of Kimco Realty in a research note on Friday, October 27th. Finally, Mizuho reiterated a “hold” rating and issued a $19.00 price objective on shares of Kimco Realty in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Kimco Realty presently has an average rating of “Hold” and an average target price of $22.22.

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $7,240.00, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 2.15 and a beta of 0.66.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). The company had revenue of $290.92 million for the quarter, compared to analyst estimates of $295.34 million. Kimco Realty had a net margin of 17.85% and a return on equity of 4.68%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. equities analysts forecast that Kimco Realty Corp will post 1.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a $0.28 dividend. This is an increase from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 6.58%. The ex-dividend date is Friday, December 29th. Kimco Realty’s payout ratio is presently 164.71%.

In other news, insider Milton Cooper acquired 50,000 shares of Kimco Realty stock in a transaction on Monday, December 4th. The shares were purchased at an average price of $19.20 per share, with a total value of $960,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.90% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in Kimco Realty by 24.5% in the 2nd quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock valued at $224,251,000 after purchasing an additional 2,408,799 shares during the last quarter. American Century Companies Inc. acquired a new stake in Kimco Realty in the 3rd quarter valued at about $44,360,000. BlackRock Inc. lifted its stake in Kimco Realty by 3.8% in the 2nd quarter. BlackRock Inc. now owns 41,368,865 shares of the real estate investment trust’s stock valued at $759,119,000 after purchasing an additional 1,506,999 shares during the last quarter. Hamlin Capital Management LLC lifted its stake in Kimco Realty by 38.9% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,330,610 shares of the real estate investment trust’s stock valued at $84,663,000 after purchasing an additional 1,212,542 shares during the last quarter. Finally, Private Management Group Inc. acquired a new stake in Kimco Realty in the 3rd quarter valued at about $21,318,000. Institutional investors own 91.58% of the company’s stock.

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Kimco Realty Company Profile

Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.

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