Kimco Realty Corporation (NYSE:KIM) shares traded -0.97% lower at $18.38 on Wall Street last session.
In accordance with the data, 25 analysts cover Kimco Realty Corporation (NYSE:KIM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $26.00 and a low of $20.00, we find $23.00. Given the previous closing price of $18.56, this indicates a potential upside of 23.92 percent. KIM stock price is now -1.77% away from the 50-day moving average and -10.59% away from the 200-day moving average. The market capitalization of the company currently stands at $11.23B.
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It has been rated a hold by 13 analysts and a buy by 10. Brokers who have rated the stock have averaged $22.83 as their price target over the next twelve months.
On January 17, 2023, Truist Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $25 to quote $24, while ‘Mizuho’ rates the stock as ‘Neutral’.
In other news, LOURENSO FRANK, Director sold 9,630 shares of the company’s stock on Feb 28. The stock was sold for $199,351 at an average price of $20.70. Upon completion of the transaction, the Director now directly owns 212,424 shares in the company, valued at $3.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 14, KIMCO REALTY CORP sold 11,500,000 shares of the business’s stock. A total of $301,070,000 was realized by selling the stock at an average price of $26.18. This leaves the insider owning 28,338,105 shares of the company worth $520.85 million. Insiders disposed of 459,976 shares of company stock worth roughly $8.45 million over the past 1 year. A total of 2.24% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in KIM stock. A new stake in Kimco Realty Corporation shares was purchased by HEITMAN REAL ESTATE SECURITIES LLC during the first quarter worth $82,301,000. WEISS MULTI-STRATEGY ADVISERS LLC invested $23,277,000 in shares of KIM during the first quarter. In the first quarter, ADAGE CAPITAL PARTNERS GP, L.L.C. acquired a new stake in Kimco Realty Corporation valued at approximately $9,085,000. ACADIAN ASSET MANAGEMENT LLC acquired a new stake in KIM for approximately $3,328,000. FORSTA AP-FONDEN purchased a new stake in KIM valued at around $2,840,000 in the second quarter. In total, there are 805 active investors with 96.00% ownership of the company’s stock.
Kimco Realty Corporation (NYSE: KIM) opened at $18.43 on Thursday. During the past 12 months, Kimco Realty Corporation has had a low of $17.34 and a high of $23.83. The fifty day moving average price for KIM is $18.68 and a two-hundred day moving average price translates $20.57 for the stock.
The latest earnings results from Kimco Realty Corporation (NYSE: KIM) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at $0.46, beating analysts’ expectations of $0.2 by 0.26. This compares to $0.37 EPS in the same period last year. The net profit margin was 13.40% and return on equity was 2.40% for KIM. The company reported revenue of $442.89 million for the quarter, compared to $427.25 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.66 percent. For the current quarter, analysts expect KIM to generate $436.6M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/22/2023. Investors who held shares on 06/08/2023 were paid a $0.23 dividend. On an annualized basis, this represents a $0.92 dividend and a 5.01% percent yield. There was an ex-dividend date of 06/07/2023 for this dividend. In terms of dividend payout ratio, KIM is presently at 176.30%.
Kimco Realty Corporation(KIM) Company Profile
Kimco Realty (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is North America’s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, and a growing portfolio of mixed-use assets. The company’s portfolio is primarily concentrated in the first-ring suburbs of the top major metropolitan markets, including those in high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities, with a tenant mix focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Kimco Realty is also committed to leadership in environmental, social and governance (ESG) issues and is a recognized industry leader in these areas. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value enhancing redevelopment activities for more than 60 years. As of December 31, 2022, the company owned interests in 532 U.S. shopping centers and mixed-use assets comprising 91 million square feet of gross leasable space.
