Argus Reiterates “Buy” Rating for Kimco Realty (NYSE:KIM)

Kimco Realty (NYSE:KIM)‘s stock had its “buy” rating reissued by research analysts at Argus in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $27.00 target price on the real estate investment trust’s stock. Argus’ price target suggests a potential upside of 32.97% from the company’s current price.

A number of other analysts also recently commented on KIM. Piper Sandler reduced their price objective on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Mizuho upped their target price on Kimco Realty from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Wells Fargo & Company started coverage on shares of Kimco Realty in a research note on Tuesday, October 21st. They set an “equal weight” rating and a $23.00 price target on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Kimco Realty in a report on Tuesday, September 9th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Scotiabank dropped their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.

Kimco Realty Price Performance

Shares of Kimco Realty stock opened at $20.31 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. The company has a market cap of $13.75 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The firm has a fifty day moving average price of $21.07 and a two-hundred day moving average price of $21.35. Kimco Realty has a fifty-two week low of $17.93 and a fifty-two week high of $25.39.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The company had revenue of $535.86 million for the quarter, compared to the consensus estimate of $522.31 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Analysts expect that Kimco Realty will post 1.71 EPS for the current year.

Insider Activity

In other news, Director Mary Hogan Preusse sold 23,100 shares of Kimco Realty stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the transaction, the director owned 40,260 shares in the company, valued at approximately $872,031.60. The trade was a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Kimco Realty during the second quarter worth $175,963,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kimco Realty by 541.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust’s stock valued at $137,756,000 after buying an additional 5,322,009 shares during the last quarter. Amundi lifted its position in Kimco Realty by 54.2% during the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust’s stock worth $186,646,000 after buying an additional 3,253,031 shares in the last quarter. Invesco Ltd. lifted its position in Kimco Realty by 14.7% during the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust’s stock worth $423,441,000 after buying an additional 2,552,276 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Kimco Realty by 27.2% during the 3rd quarter. Federated Hermes Inc. now owns 10,649,864 shares of the real estate investment trust’s stock worth $232,700,000 after acquiring an additional 2,280,090 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Company Profile

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.