Truist Financial Boosts Kimco Realty (NYSE:KIM) Price Target to $23.00
by Danessa Lincoln · The Markets DailyKimco Realty (NYSE:KIM – Get Free Report) had its price target upped by equities research analysts at Truist Financial from $22.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target points to a potential upside of 0.38% from the stock’s current price.
Several other research analysts have also commented on the company. Mizuho set a $21.00 price target on Kimco Realty in a research report on Friday, January 9th. JPMorgan Chase & Co. increased their price objective on Kimco Realty from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Citigroup cut their target price on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. UBS Group reduced their price target on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Barclays reiterated an “overweight” rating and set a $25.00 price target on shares of Kimco Realty in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.57.
Check Out Our Latest Research Report on Kimco Realty
Kimco Realty Stock Up 2.6%
NYSE KIM traded up $0.57 during trading on Monday, reaching $22.91. 1,296,244 shares of the company’s stock were exchanged, compared to its average volume of 5,965,463. The company has a 50 day moving average price of $22.18 and a two-hundred day moving average price of $21.42. Kimco Realty has a 1 year low of $17.93 and a 1 year high of $23.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The stock has a market cap of $15.44 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04.
Hedge Funds Weigh In On Kimco Realty
Several large investors have recently added to or reduced their stakes in KIM. Quent Capital LLC acquired a new position in Kimco Realty during the third quarter valued at approximately $27,000. Zions Bancorporation National Association UT lifted its position in Kimco Realty by 270.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,049 shares in the last quarter. City Holding Co. purchased a new stake in Kimco Realty during the 3rd quarter worth $30,000. Brown Lisle Cummings Inc. lifted its stake in shares of Kimco Realty by 127.3% in the fourth quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 840 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Kimco Realty in the second quarter valued at about $37,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.
Kimco Realty Company Profile
Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.
Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.