Kimco Realty Corp (NYSE:KIM) Receives Average Recommendation of “Buy” from Analysts

Kimco Realty Corp (NYSE:KIM) has earned an average rating of “Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $27.42.

KIM has been the topic of a number of research analyst reports. Evercore Partners Inc. decreased their price target on Kimco Realty Corp from $26.00 to $25.00 and set a “hold” rating on the stock in a research report on Tuesday, September 8th. Evercore ISI restated a “hold” rating and set a $25.00 price target (down from $26.00) on shares of Kimco Realty Corp in a research report on Tuesday, September 8th. Cowen and Company restated an “outperform” rating and set a $28.00 price target (up from $24.50) on shares of Kimco Realty Corp in a research report on Friday, October 9th. Barclays increased their price target on Kimco Realty Corp from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, Canaccord Genuity restated a “buy” rating and set a $28.00 price target on shares of Kimco Realty Corp in a research report on Friday, September 4th.

Shares of Kimco Realty Corp (NYSE:KIM) opened at 25.46 on Wednesday. The stock’s 50 day moving average price is $26.24 and its 200-day moving average price is $24.62. Kimco Realty Corp has a 12 month low of $22.07 and a 12 month high of $28.54. The firm has a market capitalization of $10.52 billion and a price-to-earnings ratio of 20.65.

Kimco Realty Corp (NYSE:KIM) last released its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.36 FFOPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.01. The company earned $288.32 million during the quarter, compared to analyst estimates of $286.40 million. During the same quarter in the previous year, the business posted $0.39 FFOPS. Kimco Realty Corp’s revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Kimco Realty Corp will post $1.55 FFOPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be paid a $0.255 dividend. This is a positive change from Kimco Realty Corp’s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Wednesday, December 30th.

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is North America’s largest publicly-traded owner and operator of open-air shopping centers. As of September 30, 2015, the company owned interests in 710 shopping centers comprising 105 million square feet of leasable space across 39 states, Puerto Rico, and Canada. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. The Company’s investment strategy is to be the owner and operator of neighborhood and community shopping centers through investments primarily in the United States. The Company’s tenants include TJX Companies, The Home Depot, Wal-Mart, Kohl’s and Bed Bath.

 

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