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 38.94% to 45.47 million shares with purchase of 12.74 million shares. This fresh investment now brings its stake to 7.34% valued currently at $921.24 million. In addition, JPMorgan Investment Management, I raised its holdings by 2.95 million to 21.33 million shares. And Capital Research & Management Co has lifted its position by 0.04% or 8577.0 shares – to 20.04 million shares.
With over 3.91 million Kimco Realty Corporation (KIM) shares trading Tuesday and a closing price of $18.76 on the day, the dollar volume was approximately $73.44 million. The shares have shown a negative half year performance of -1.05% and its price on 09/12/23 gained nearly 1.02%. Currently, there are 617.08M common shares owned by the public and among those 605.97M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for KIM have a consensus price objective of $22.57. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $20.00. The average price target is 16.88% above its recent price level and an upside to the estimated low will see the stock gain 6.2% over that period. But an upside of 27.85% will see the stock hit the forecast high price target while median target price for the stock is $23.00.
Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 1,297,600 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 459,976 shares.
The top 3 mutual fund holders in Kimco Realty Corporation are Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Vanguard Real Estate Index Fund owns 26.13 million shares of the company’s stock, all valued at over $529.48 million. The company bought an additional 0.33 million shares recently to bring their total holdings to about 4.22% of the shares outstanding. Vanguard Total Stock Market ETF sold 19886.0 shares to see its total holdings shrink to 19.26 million shares valued at over $390.15 million and representing 3.11% of the shares outstanding. Vanguard Small Cap Index Fund bought 65310.0 shares to bring its total holdings to over 16.08 million shares at a value of $325.71 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.59% of the shares outstanding.
Shares of Kimco Realty Corporation (NYSE: KIM) opened at $18.54, down -$0.03 from a prior closing price of $18.57. However, the script later moved the day high at 18.82, up 1.02%. The company’s stock has a 5-day price change of 1.24% and -3.15% over the past three months. KIM shares are trading -11.43% year to date (YTD), with the 12-month market performance down to -14.60% lower. It has a 12-month low price of $17.34 and touched a high of $23.27 over the same period. KIM has an average intraday trading volume of 4.34 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 -0.82%, -5.11%, and -6.23% respectively.
Institutional ownership of Kimco Realty Corporation (NYSE: KIM) shares accounts for 96.00% of the company’s 617.08M shares outstanding. Mutual fund holders own 4.06%, while other institutional holders and individual stakeholders account for 60.14% and 34.23% respectively.
It has a market capitalization of $11.62B and a beta (3y monthly) value of 1.46. The stock’s trailing 12-month PE ratio is 30.86, while the earnings-per-share (ttm) stands at $0.61. The company has a debt-to-equity ratio at 0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.67% over the week and 1.95% over the month.
Analysts forecast that Kimco Realty Corporation (KIM) will achieve an EPS of $0.16 for the current quarter, $0.16 for the next quarter and $0.57 for 2024. The lowest estimate earnings-per-share for the quarter is $0.14 while analysts give the company a high EPS estimate of $0.17. Comparatively, EPS for the current quarter was $0.08 a year ago. Earnings per share for the fiscal year are expected to decrease by -90.00%, and -38.65% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Kimco Realty Corporation (KIM) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 11 of the 21 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. Compass Point stated their Buy rating for the stock in a research note on August 28, 2023, with the firm’s price target at $22.
