Kimco Realty (NYSE:KIM) Reaches New 52-Week High – Here’s Why

Kimco Realty Corp (NYSE:KIM)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $25.01 and last traded at $24.85, with a volume of 21409 shares changing hands. The stock had previously closed at $24.65.

Analysts Set New Price Targets

Several research firms recently weighed in on KIM. Robert W. Baird upped their price target on Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Scotiabank upped their price target on Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised 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. Compass Point upped their price objective on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Piper Sandler reissued an “overweight” rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.55.

Kimco Realty Price Performance

The stock has a market capitalization of $16.35 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 4.03 and a beta of 1.50. The stock’s 50 day moving average price is $23.52 and its 200-day moving average price is $21.22. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. Kimco Realty’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Kimco Realty Corp will post 1.63 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.12%. Kimco Realty’s dividend payout ratio is presently 174.55%.

Institutional Trading of Kimco Realty

A number of hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its holdings in shares of Kimco Realty by 9.0% in the 3rd quarter. CIBC Asset Management Inc now owns 98,636 shares of the real estate investment trust’s stock valued at $2,290,000 after purchasing an additional 8,170 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Kimco Realty by 4.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,969 shares of the real estate investment trust’s stock worth $557,000 after acquiring an additional 1,008 shares during the period. Metis Global Partners LLC raised its stake in shares of Kimco Realty by 21.3% in the third quarter. Metis Global Partners LLC now owns 104,481 shares of the real estate investment trust’s stock worth $2,426,000 after purchasing an additional 18,317 shares during the last quarter. KBC Group NV boosted its position in Kimco Realty by 408.7% in the third quarter. KBC Group NV now owns 669,923 shares of the real estate investment trust’s stock valued at $15,556,000 after buying an additional 538,232 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in Kimco Realty during the 3rd quarter valued at approximately $348,000. 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.