Kimco Realty Corp. (KIM) Downgraded by Goldman Sachs Group Inc. to Sell
Kimco Realty Corp. (NYSE:KIM) was downgraded by research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a research report issued on Tuesday, The Fly reports.
Other research analysts have also issued research reports about the company. Argus upgraded Kimco Realty Corp. from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday. Vetr lowered Kimco Realty Corp. from a “strong-buy” rating to a “buy” rating and set a $33.15 price objective for the company. in a research report on Thursday, September 22nd. Royal Bank Of Canada boosted their price objective on Kimco Realty Corp. from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, August 1st. Canaccord Genuity boosted their price objective on Kimco Realty Corp. from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, August 16th. Finally, RBC Capital Markets restated an “outperform” rating and set a $34.00 price objective (up previously from $31.00) on shares of Kimco Realty Corp. in a research report on Monday, August 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Kimco Realty Corp. presently has a consensus rating of “Hold” and a consensus price target of $31.67.
Kimco Realty Corp. (NYSE:KIM) opened at 26.25 on Tuesday. The stock has a market cap of $11.16 billion, a PE ratio of 17.61 and a beta of 0.86. The firm has a 50-day moving average price of $26.64 and a 200 day moving average price of $29.02. Kimco Realty Corp. has a 52-week low of $24.75 and a 52-week high of $32.24.
Kimco Realty Corp. (NYSE:KIM) last released its quarterly earnings data on Friday, October 28th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Kimco Realty Corp. had a return on equity of 12.62% and a net margin of 57.87%. The business earned $285.08 million during the quarter, compared to analyst estimates of $288.31 million. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities analysts anticipate that Kimco Realty Corp. will post $1.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, December 29th. This is a positive change from Kimco Realty Corp.’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.11%. Kimco Realty Corp.’s payout ratio is 67.55%.
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Large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Kimco Realty Corp. by 66.5% in the second quarter. Advisors Asset Management Inc. now owns 3,329 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,329 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Kimco Realty Corp. by 38.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,367 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 942 shares during the period. Global X Management Co. LLC raised its stake in shares of Kimco Realty Corp. by 160.2% in the second quarter. Global X Management Co. LLC now owns 3,700 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 2,278 shares during the period. Nuveen Fund Advisors LLC bought a new stake in shares of Kimco Realty Corp. during the second quarter worth about $204,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Kimco Realty Corp. during the third quarter worth about $221,000. 90.77% of the stock is currently owned by institutional investors.
Kimco Realty Corp. Company Profile
Kimco Realty Corporation is a real estate investment trust. The Company is engaged principally in the ownership, management, development and operation of open-air shopping centers. The Company holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area (GLA), located in approximately 40 states of the United States, Puerto Rico and Canada.
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