Scotiabank Boosts Kimco Realty (NYSE:KIM) Price Target to $24.00

Kimco Realty (NYSE:KIM) had its price target upped by investment analysts at Scotiabank from $22.00 to $24.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 7.11% from the stock’s previous close.

KIM has been the subject of a number of other research reports. Piper Sandler raised their target price on Kimco Realty from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, February 17th. Wells Fargo & Company upped their price target on shares of Kimco Realty from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 19th. Robert W. Baird set a $25.00 price target on shares of Kimco Realty in a report on Friday, February 13th. UBS Group reduced their price objective on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Barclays reissued an “overweight” rating and set a $25.00 price objective on shares of Kimco Realty in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.70.

Kimco Realty Stock Down 0.7%

KIM opened at $22.41 on Tuesday. 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 12 month low of $17.93 and a 12 month high of $23.91. The stock has a market capitalization of $15.10 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.26 and a beta of 1.04. The business has a 50 day simple moving average of $22.30 and a 200-day simple moving average of $21.42.

Institutional Investors Weigh In On Kimco Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Old North State Trust LLC grew its stake in Kimco Realty by 37.3% in the 4th quarter. Old North State Trust LLC now owns 16,161 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 4,387 shares during the last quarter. Hsbc Holdings PLC raised its position in Kimco Realty by 8.6% during the fourth quarter. Hsbc Holdings PLC now owns 3,587,902 shares of the real estate investment trust’s stock worth $72,724,000 after acquiring an additional 283,385 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Kimco Realty by 9.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 539,577 shares of the real estate investment trust’s stock valued at $10,937,000 after purchasing an additional 48,672 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Kimco Realty by 5.6% in the fourth quarter. Corient Private Wealth LLC now owns 43,112 shares of the real estate investment trust’s stock valued at $874,000 after purchasing an additional 2,302 shares in the last quarter. Finally, Reflection Asset Management acquired a new stake in shares of Kimco Realty in the fourth quarter valued at approximately $1,184,000. 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.