Kimco Realty (NYSE:KIM) Rating Reaffirmed
Equities researchers at Barclays now has a $31.0 target price on Kimco Realty (NYSE:KIM). Barclays and their recent target price would indicate a potential upside of 22.63% from the company’s previous stock close. The rating has been revealed to clients and investors in a recent report on Tuesday, 15 December.
From a total of 17 analysts covering Kimco Realty (NYSE:KIM) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 12 a ”Hold”. This means that 43% of the ratings are positive. The highest target price is $31 while the lowest target price is $26. The mean of all analyst targets is $28.38 with a 8.70% above today’s ($25.99) stock price. Kimco Realty was the topic of 8 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Zacks downgraded shares on August 24 to “Buy” rating.
Approximately 2.23 million shares of stock traded hands. Kimco Realty Corp (NYSE:KIM) has risen 4.77% since May 12, 2015 and is uptrending. It has outperformed by 8.44% the S&P500.
The overall sentiment of institutions has decreased to 1.09 in Q2 2015. Its down 0.01, from 1.1 in 2015Q2. The ratio fall, as 38 institutions have sold all the shares of Kimco Realty Corp that they owned while 119 funds have taken shares off the table. 35 funds have purchased shares for the first time while 136 added to their positions. These institutions now hold 377.55 million shares or 3.10% more than the 366.20 million shares they owned in 2015Q2.
The Fund V3 Capital Management L.P. currently is holding shares equating to 16.49% of its total portfolio in Kimco Realty Corp representing a total of 2.68 million shares. Another fund,Green Street Investors Llc, is holding a total of 164,100 shares equating to 4.25% of their holdings. Additionally, Real Estate Management Services Llc has a 875,900 share stake in Kimco Realty Corp which represents 3.31% of their total portfolio. The Fund, Cbre Clarion Securities Llc, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 2.96% of their total portfolio. Finally Harrison Street Securities Llc, a fund which is based in the state of Illinois reported a total holdings of 38,948 shares.
Kimco Realty Corporation is a self-administered real estate investment trust (REIT), which owns and operates neighborhood and community shopping centers. The company has a market cap of $10.52 billion. The Firm had interests in approximately 754 shopping center properties, aggregating 109.5 million square feet of gross leasable area (GLA), and 533 other property interests, primarily through the Company’s preferred equity investments and other real estate investments, totaling approximately 11.7 million square feet of GLA, for a total of 1,287 properties aggregating 121.2 million square feet of GLA, located in 41 states in the United States and also in Puerto Rico, Canada, Mexico and Chile. It has 23.66 P/E ratio. The Company’s investment strategy is to be the owner and operator of neighborhood and community shopping centers through investments primarily in the United States.
According to Zacks Investment Research, “Kimco Realty Corp. together with its subsidiaries, is a self-administered real estate investment trust and is one of the nation’s largest owners and operators of neighborhood and community shopping centers. The company’s portfolio of property interests includes neighborhood and community shopping center properties, regional malls, retail store leases, parcels of undeveloped land, and projects under development.”