Kimco Realty (NYSE:KIM) Cut to Sell at Wall Street Zen

Kimco Realty (NYSE:KIM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other brokerages have also recently issued reports on KIM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kimco Realty in a report on Wednesday, October 8th. Argus reissued a “buy” rating and set a $27.00 target price on shares of Kimco Realty in a research report on Monday, December 1st. Scotiabank dropped their price target on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, November 13th. Mizuho upped their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Finally, Barclays increased their price target on shares of Kimco Realty from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.50.

Kimco Realty Stock Performance

Shares of Kimco Realty stock opened at $20.12 on Friday. The company has a 50 day moving average of $21.00 and a 200-day moving average of $21.32. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.77. Kimco Realty has a 1-year low of $17.93 and a 1-year high of $25.26. The company has a market cap of $13.62 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $535.86 million for the quarter, compared to analyst estimates of $522.31 million. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. As a group, equities research analysts forecast that Kimco Realty will post 1.71 earnings per share for the current fiscal year.

Insider Transactions at Kimco Realty

In other Kimco Realty news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction 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 directly owned 40,260 shares in the company, valued at approximately $872,031.60. This represents a 36.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Kimco Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIM. Trust Co. of Toledo NA OH bought a new position in shares of Kimco Realty during the second quarter valued at approximately $27,000. Quent Capital LLC bought a new position in Kimco Realty during the 3rd quarter valued at about $27,000. AlphaQuest LLC purchased a new position in Kimco Realty in the first quarter worth about $29,000. Keystone Global Partners LLC purchased a new stake in Kimco Realty during the first quarter valued at approximately $30,000. Finally, City Holding Co. bought a new position in Kimco Realty in the 3rd quarter worth $30,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

About Kimco Realty

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.