Truist Financial Raises Kimco Realty (NYSE:KIM) Price Target to $23.00

Kimco Realty (NYSE:KIM) had its target price increased by stock analysts at Truist Financial from $22.00 to $23.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective points to a potential upside of 2.06% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Piper Sandler lifted their price objective on Kimco Realty from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Weiss Ratings raised shares of Kimco Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 5th. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Barclays restated an “overweight” rating and set a $25.00 price target on shares of Kimco Realty in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.70.

Kimco Realty Stock Performance

Shares of KIM opened at $22.54 on Monday. The firm has a market cap of $15.19 billion, a PE ratio of 27.82, a PEG ratio of 1.27 and a beta of 1.04. The stock’s fifty day moving average price is $22.26 and its two-hundred day moving average price is $21.42. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $23.91.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Values First Advisors Inc. lifted its holdings in shares of Kimco Realty by 1.7% in the third quarter. Values First Advisors Inc. now owns 27,590 shares of the real estate investment trust’s stock worth $603,000 after buying an additional 450 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Kimco Realty by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust’s stock valued at $663,000 after acquiring an additional 503 shares in the last quarter. Parallel Advisors LLC grew its stake in Kimco Realty by 11.2% during the third quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 520 shares in the last quarter. EPG Wealth Management LLC increased its holdings in Kimco Realty by 1.8% during the 4th quarter. EPG Wealth Management LLC now owns 30,771 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 530 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in Kimco Realty by 5.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 12,421 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 589 shares during the period. 89.25% of the stock is currently owned by 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.