Today, Argus Upgraded Kimco Realty Corp. (KIM) to “Buy”

Today, Argus Upgraded Kimco Realty Corp. (KIM) to “Buy”

Kimco Realty Corp. (NYSE:KIM) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $30.00 target price on the real estate investment trust’s stock. Argus’ target price points to a potential upside of 14.29% from the stock’s previous close.

A number of other research firms have also weighed in on KIM. RBC Capital Markets reiterated an “outperform” rating and issued a $34.00 price target (up previously from $31.00) on shares of Kimco Realty Corp. in a research report on Monday, August 1st. Royal Bank Of Canada increased their price objective on Kimco Realty Corp. from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, August 1st. Canaccord Genuity increased their price objective 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. JPMorgan Chase & Co. increased their price objective 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. Finally, Vetr downgraded 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 note on Thursday, September 22nd. One analyst has 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. has an average rating of “Buy” and an average target price of $31.67.

Kimco Realty Corp. (NYSE:KIM) opened at 26.25 on Friday. 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 12-month low of $24.75 and a 12-month high of $32.24.

Kimco Realty Corp. (NYSE:KIM) last released its quarterly earnings results on Friday, October 28th. The real estate investment trust reported $0.18 earnings per share 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 last year, the company posted $0.40 EPS. Analysts forecast that Kimco Realty Corp. will post $1.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Tuesday, January 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.11%. This is an increase from Kimco Realty Corp.’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, December 29th. Kimco Realty Corp.’s dividend payout ratio (DPR) is presently 67.55%.

Several hedge funds and other institutional investors have recently modified their holdings of KIM. Vanguard Group Inc. increased its position in shares of 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 worth $2,169,308,000 after buying an additional 1,879,171 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 worth $1,010,179,000 after buying an additional 2,691,051 shares during the last quarter. State Street Corp increased its position in shares of Kimco Realty Corp. by 1.7% in the second quarter. State Street Corp now owns 24,541,598 shares of the real estate investment trust’s stock worth $770,112,000 after buying an additional 420,947 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Kimco Realty Corp. by 4.6% in the third quarter. BlackRock Fund Advisors now owns 12,796,645 shares of the real estate investment trust’s stock worth $370,463,000 after buying an additional 559,718 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Kimco Realty Corp. by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 11,056,566 shares of the real estate investment trust’s stock worth $320,087,000 after buying an additional 106,057 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

About Kimco Realty Corp.

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