Kimco Realty (NYSE:KIM) Reaches New 52-Week High – Time to Buy?

Kimco Realty Corp (NYSE:KIM)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $25.70 and last traded at $25.64, with a volume of 433478 shares traded. The stock had previously closed at $25.46.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KIM. Scotiabank boosted their price objective on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday. Wells Fargo & Company increased their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Evercore ISI boosted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.33.

Kimco Realty Stock Performance

The firm has a market cap of $17.36 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 3.34 and a beta of 1.50. The company has a 50 day simple moving average of $24.00 and a 200-day simple moving average of $21.88. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The business had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. Kimco Realty’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. As a group, equities research analysts anticipate that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s payout ratio is 174.55%.

Hedge Funds Weigh In On Kimco Realty

Several institutional investors and hedge funds have recently bought and sold shares of KIM. Catalyst Capital Advisors LLC bought a new stake in Kimco Realty in the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in Kimco Realty during the 3rd quarter valued at $31,000. Brooklyn Investment Group purchased a new stake in Kimco Realty during the 3rd quarter valued at $37,000. Blue Trust Inc. grew its holdings in Kimco Realty by 613.5% in the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,816 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Kimco Realty in the third quarter valued at about $51,000. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Company Profile

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.