Kimco Realty Corp Reaches New 52-Week High at $23.45 (KIM)
Shares of Kimco Realty Corp (NYSE:KIM) reached a new 52-week high on Thursday , American Banking News.com reports. The stock traded as high as $23.45 and last traded at $23.36, with a volume of 1,023,177 shares trading hands. The stock had previously closed at $23.11.
Several analysts have recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Kimco Realty Corp from $24.00 to $25.00 in a research note on Tuesday, May 27th. They now have an “outperform” rating on the stock. Separately, analysts at Raymond James downgraded shares of Kimco Realty Corp from an “outperform” rating to a “market perform” rating in a research note on Monday, May 12th. Finally, analysts at Barclays raised their price target on shares of Kimco Realty Corp from $26.00 to $28.00 in a research note on Tuesday, April 22nd. They now have an “overweight” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $24.22.
The stock’s 50-day moving average is $22.78 and its 200-day moving average is $21.54. The company has a market cap of $9.665 billion and a price-to-earnings ratio of 48.55. Kimco Realty Corp also saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 14,669,585 shares, a drop of 15.4% from the April 30th total of 17,335,821 shares. Based on an average daily trading volume, of 2,838,498 shares, the short-interest ratio is currently 5.2 days. Approximately 3.7% of the company’s stock are sold short.
Kimco Realty Corp (NYSE:KIM) last released its earnings data on Wednesday, May 7th. The company reported $0.34 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.34. The company had revenue of $246.90 million for the quarter, compared to the consensus estimate of $237.42 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts expect that Kimco Realty Corp will post $1.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Tuesday, July 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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