Kimco Realty Corp. PT Lowered to $23.00 (KIM)
Stock analysts at Cowen and Company cut their target price on shares of Kimco Realty Corp. (NYSE:KIM) from $25.00 to $23.00 in a report issued on Thursday, AR Network reports. Cowen and Company’s price target indicates a potential upside of 13.69% from the stock’s previous close.
Kimco Realty Corp. (NYSE:KIM) traded down 1.17% on Thursday, hitting $20.23. 3,665,465 shares of the company’s stock traded hands. Kimco Realty Corp. has a 52 week low of $18.11 and a 52 week high of $25.09. The stock has a 50-day moving average of $21.22 and a 200-day moving average of $22.23. The company has a market cap of $8.287 billion and a P/E ratio of 47.83.
Kimco Realty Corp. (NYSE:KIM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.02. The company had revenue of $246.12 million for the quarter, compared to the consensus estimate of $240.37 million. During the same quarter last year, the company posted $0.34 earnings per share. Kimco Realty Corp.’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Kimco Realty Corp. will post $1.32 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Janney Montgomery Scott initiated coverage on shares of Kimco Realty Corp. (NYSE:KIM) in a research note to investors on Tuesday. They set a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Kimco Realty Corp. (NYSE:KIM) in a research note to investors on Friday, August 16th. They now have a $22.00 price target on the stock. Finally, analysts at Bank of America Corp. upgraded shares of Kimco Realty Corp. (NYSE:KIM) from a “neutral” rating to a “buy” rating in a research note to investors on Friday, August 9th. They now have a $26.00 price target on the stock, up previously from $25.50.
Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.20.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Tuesday, October 1st.
Kimco Realty Corp. is a real estate investment trust (NYSE:KIM) that owns and operates North America’s largest portfolio of neighborhood and community shopping centers.
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