Kimco Realty Corp (NYSE:KIM) Receives $27.27 Consensus Target Price from Brokerages

Kimco Realty Corp (NYSE:KIM) has received a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $27.27.

A number of research analysts have recently issued reports on the stock. Evercore Partners Inc. dropped their price target on shares of 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. Canaccord Genuity reiterated a “buy” rating and set a $29.00 target price on shares of Kimco Realty Corp in a research report on Friday, December 11th. Barclays boosted their target price on shares of Kimco Realty Corp from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, October 20th. Deutsche Bank reiterated a “hold” rating on shares of Kimco Realty Corp in a research report on Tuesday, December 15th. Finally, Argus upgraded shares of Kimco Realty Corp from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Wednesday, December 16th.

Kimco Realty Corp (NYSE:KIM) traded down 2.76% on Monday, reaching $25.73. 887,813 shares of the company were exchanged. Kimco Realty Corp has a 12-month low of $22.07 and a 12-month high of $28.54. The company’s 50-day moving average price is $26.03 and its 200-day moving average price is $24.88. The stock has a market capitalization of $10.63 billion and a P/E ratio of 20.87.

Kimco Realty Corp (NYSE:KIM) last issued its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported $0.36 FFO (as adjusted per share) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.01. The firm had revenue of $288.32 million for the quarter, compared to analysts’ expectations of $286.40 million. During the same quarter in the prior year, the business earned $0.39 FFOPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts anticipate that Kimco Realty Corp will post $1.56 FFO (as adjusted per share) for the current fiscal year.

The company also recently announced 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 boost from Kimco Realty Corp’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, December 30th. This represents a $1.02 annualized dividend and a dividend yield of 3.85%.

A hedge fund recently raised its stake in Kimco Realty Corp stock. KBC Group boosted its position in Kimco Realty Corp (NYSE:KIM) by 9.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,328 shares of the real estate investment trust’s stock after buying an additional 12,622 shares during the period. KBC Group’s holdings in Kimco Realty Corp were worth $3,501,000 at the end of the most recent reporting period.

12 Month Chart for NYSE:KIM

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is North America‚Äôs 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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