Kimco Realty Corporation (NYSE: KIM) Loses -44.14% From High. Why That Could Change?


    Cohen & Steers Capital Management.. recently announced the acquisition of new stake in Kimco Realty Corporation (NYSE:KIM). The institutional investor has increased its shareholding in the Real Estate company by 44.48% to 29.87 million shares with purchase of 9.2 million shares. This fresh investment now brings its stake to 6.91% valued currently at $333.06 million. In addition, APG Asset Management US, Inc. raised its holdings by 1.15 million to 22.17 million shares. And Invesco Advisers, Inc. has lifted its position by 47.24% or 4.01 million shares – to 12.48 million shares.

    With over 4.72 million Kimco Realty Corporation (KIM) shares trading Tuesday and a closing price of $12.21 on the day, the dollar volume was approximately $57.69 million. The shares have shown a positive weekly performance of 3.30% and its price on 09/01/20 gained nearly 1.83%. Currently, there are 429.97M common shares owned by the public and among those 420.58M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for KIM have a consensus price objective of $13.39. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $11.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Kimco Realty Corporation stock is 2.80 for the next 12 months. The average price target is 8.06% above its last price level and an upside to the estimated low will see the stock lose -11.0% over that period. But an upside of 23.69% will see the stock hit the forecast high price target while mean target price for the stock is $13.50.

    Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 787,918 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 374,874 shares.

    The top 3 mutual fund holders in Kimco Realty Corporation are Vanguard Real Estate Index Fund, Stichting Pensioenfonds ABP (Glob, and Vanguard Total Stock Market Index. Vanguard Real Estate Index Fund owns 19.28 million shares of the company’s stock, all valued at over $214.99 million. The company sold -0.12 million shares recently to bring their total holdings to about 4.46% of the shares outstanding. Stichting Pensioenfonds ABP (Glob sold -1.09 million shares to see its total holdings shrink to 15.94 million shares valued at over $177.68 million and representing 3.68% of the shares outstanding. Vanguard Total Stock Market Index sold 6912.0 shares to bring its total holdings to over 11.74 million shares at a value of $130.88 million. Vanguard Total Stock Market Index now owns shares totaling to 2.71% of the shares outstanding.

    Shares of Kimco Realty Corporation (NYSE: KIM) opened at $11.78, down -$0.21 from a prior closing price of $11.99. However, the script later closed the day at $12.21, up 1.83%. The company’s stock has a 5-day price change of 3.30% and -12.16% over the past three months. KIM shares are trading -41.04% year to date (YTD), with the 12-month market performance down to -34.81% lower. It has a 12-month low price of $7.45 and touched a high of $21.86 over the same period. Currently, 4.72 million shares have been traded, compared to an average intraday trading volume of 5.72 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.26%, 2.77%, and -17.01% respectively.

    Institutional ownership of Kimco Realty Corporation (NYSE: KIM) shares accounts for 91.90% of the company’s 429.97M shares outstanding. Mutual fund holders own 56.63%, while other institutional holders and individual stakeholders account for 7.26% and 34.46% respectively.

    It has a market capitalization of $5.20B and a beta (3y monthly) value of 1.14. The stock’s trailing 12-month PE ratio is 5.41, while the earnings-per-share (ttm) stands at $2.26. The company has a PEG of 1.18 and the debt-to-equity ratio at 0.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.64% over the week and 3.82% over the month.

    Analysts forecast that Kimco Realty Corporation (KIM) will achieve an EPS of $0.09 for the current quarter, $0.11 for the next quarter and $0.51 for 2021. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.14 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.60%, and -46.07% over the next financial year. EPS should grow at an annualized rate of 4.60% over the next five years, compared to 1.00% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate Kimco Realty Corporation (KIM) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 15 of the 22 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the KIM, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on August 11, 2020, with the firm’s price target at $13-$15. Compass Point coverage for the Kimco Realty Corporation (KIM) stock in a research note released on July 08, 2020 offered a Neutral rating with a price target of $13. Deutsche Bank was of a view on July 06, 2020 that the stock is Buy, while Goldman gave the stock Buy rating on July 01, 2020, issuing a price target of $15. Evercore ISI on their part issued Underperform rating on June 15, 2020.


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