Kimco Realty (NYSE:KIM) Sees Strong Trading Volume on Analyst Upgrade

Kimco Realty Corp (NYSE:KIM) shares saw strong trading volume on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $17.00 to $21.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. 135,161 shares were traded during trading, a decline of 97% from the previous session’s volume of 4,862,066 shares.The stock last traded at $19.42 and had previously closed at $19.48.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird assumed coverage on Kimco Realty in a report on Tuesday. They issued an “outperform” rating and a $21.00 target price for the company. Mizuho raised their target price on Kimco Realty from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 12th. Morgan Stanley raised their target price on Kimco Realty from $15.90 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, March 3rd. Finally, Truist raised their target price on Kimco Realty from $18.00 to $20.00 in a report on Friday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.10.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Kimco Realty by 11.3% during the 4th quarter. BlackRock Inc. now owns 41,652,116 shares of the real estate investment trust’s stock worth $625,198,000 after purchasing an additional 4,231,835 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Kimco Realty by 33.9% in the 4th quarter. JPMorgan Chase & Co. now owns 26,536,695 shares of the real estate investment trust’s stock valued at $398,316,000 after buying an additional 6,712,847 shares during the period. Dimensional Fund Advisors LP grew its holdings in Kimco Realty by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,136,158 shares of the real estate investment trust’s stock valued at $107,111,000 after buying an additional 25,569 shares during the period. Norges Bank purchased a new stake in Kimco Realty in the 4th quarter valued at about $78,671,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Kimco Realty by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,734,313 shares of the real estate investment trust’s stock valued at $71,063,000 after buying an additional 21,509 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.

The company has a market cap of $8.64 billion, a PE ratio of 9.87 and a beta of 1.46. The firm has a fifty day simple moving average of $19.06 and a 200 day simple moving average of $15.59.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Wednesday, February 10th. The real estate investment trust reported $0.45 EPS for the quarter, beating the consensus estimate of $0.10 by $0.35. Kimco Realty had a return on equity of 17.35% and a net margin of 83.81%. Sell-side analysts anticipate that Kimco Realty Corp will post 1.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 24th. Stockholders of record on Wednesday, March 10th were paid a $0.17 dividend. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, March 9th. Kimco Realty’s payout ratio is currently 46.26%.

Kimco Realty Company Profile (NYSE:KIM)

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.

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