Wells Fargo & Company Forecasts Strong Price Appreciation for Kimco Realty (NYSE:KIM) Stock

Kimco Realty (NYSE:KIM) had its price target upped by Wells Fargo & Company from $21.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 11.88% from the company’s current price.

A number of other equities analysts have also commented on KIM. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Argus reiterated a “buy” rating and issued a $27.00 target price on shares of Kimco Realty in a research note on Monday, December 1st. Citigroup reduced their price target on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Truist Financial decreased their price target on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. increased their price objective on Kimco Realty from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Kimco Realty Stock Down 3.2%

KIM stock opened at $22.35 on Thursday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $15.06 billion, a PE ratio of 27.59, a PEG ratio of 1.29 and a beta of 1.04. Kimco Realty has a twelve month low of $17.93 and a twelve month high of $23.91. The stock has a 50-day simple moving average of $22.18 and a two-hundred day simple moving average of $21.43.

Hedge Funds Weigh In On Kimco Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quent Capital LLC purchased a new position in shares of Kimco Realty during the 3rd quarter valued at about $27,000. Zions Bancorporation National Association UT boosted its stake in Kimco Realty by 270.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,049 shares in the last quarter. City Holding Co. bought a new position in Kimco Realty during the third quarter valued at approximately $30,000. Brown Lisle Cummings Inc. grew its position in Kimco Realty by 127.3% during the fourth quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 840 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Kimco Realty during the second quarter worth approximately $37,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.