Todays Report: Today, Kimco Realty Corp. (KIM) Upgrade by Argus to Buy

Today, Kimco Realty Corp. (KIM) Upgrade by Argus to Buy

Kimco Realty Corp. (NYSE:KIM) was upgraded by Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports.

A number of other research analysts have also recently commented on KIM. JPMorgan Chase & Co. upped their price target on Kimco Realty Corp. from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. BTIG Research assumed coverage on Kimco Realty Corp. in a research note on Thursday, August 25th. They set a “buy” rating and a $34.00 price target on the stock. Vetr upgraded Kimco Realty Corp. from a “buy” rating to a “strong-buy” rating and set a $33.15 price target on the stock in a research note on Monday, September 12th. RBC Capital Markets restated an “outperform” rating and set a $34.00 price target (up from $31.00) on shares of Kimco Realty Corp. in a research note on Monday, August 1st. Finally, Canaccord Genuity upped their price target on Kimco Realty Corp. from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $31.59.

Shares of Kimco Realty Corp. (NYSE:KIM) opened at 26.07 on Friday. Kimco Realty Corp. has a 52-week low of $24.75 and a 52-week high of $32.24. The firm has a market cap of $11.08 billion, a PE ratio of 17.48 and a beta of 0.86. The stock has a 50 day moving average price of $26.75 and a 200-day moving average price of $29.07.

Kimco Realty Corp. (NYSE:KIM) last released its quarterly earnings data on Friday, October 28th. The real estate investment trust reported $0.18 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $285.08 million for the quarter, compared to analysts’ expectations of $288.31 million. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, equities analysts anticipate that Kimco Realty Corp. will post $1.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Tuesday, January 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.14%. The ex-dividend date is Thursday, December 29th. This is a positive change from Kimco Realty Corp.’s previous quarterly dividend of $0.26. Kimco Realty Corp.’s dividend payout ratio is 67.55%.

A number of institutional investors have recently bought and sold shares of KIM. Cohen & Steers Inc. raised its position in Kimco Realty Corp. by 347.0% in the second quarter. Cohen & Steers Inc. now owns 3,596,451 shares of the real estate investment trust’s stock valued at $189,893,000 after buying an additional 2,791,945 shares during the period. JPMorgan Chase & Co. raised its position in Kimco Realty Corp. by 9.1% in the second quarter. JPMorgan Chase & Co. now owns 32,191,757 shares of the real estate investment trust’s stock valued at $1,010,179,000 after buying an additional 2,691,051 shares during the period. Principal Financial Group Inc. raised its position in Kimco Realty Corp. by 214.6% in the second quarter. Principal Financial Group Inc. now owns 3,438,252 shares of the real estate investment trust’s stock valued at $107,892,000 after buying an additional 2,345,280 shares during the period. Janus Capital Management LLC raised its position in Kimco Realty Corp. by 338.4% in the second quarter. Janus Capital Management LLC now owns 3,015,921 shares of the real estate investment trust’s stock valued at $94,640,000 after buying an additional 2,328,010 shares during the period. Finally, Vanguard Group Inc. raised its position in Kimco Realty Corp. by 2.8% in the second quarter. Vanguard Group Inc. now owns 69,130,261 shares of the real estate investment trust’s stock valued at $2,169,308,000 after buying an additional 1,879,171 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

About Kimco Realty Corp.

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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