Kimco Realty Corporation [KIM] stock Downgrade by Truist analyst, price target now $24

Kimco Realty Corporation [NYSE: KIM] surged by $0.6 during the normal trading session on Tuesday and reaching a high of $22.09 during the day while it closed the day at $21.95. The company report on December 15, 2022 that Kimco Realty Corporation Announces Holding Company Reorganization.

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Kimco Realty® (NYSE: KIM) (the “Company”) today announced that it intends to complete a holding company reorganization (the “Reorganization”), which would restructure the Company as an Umbrella Partnership Real Estate Investment Trust, or UPREIT. As part of the Reorganization, a new holding company (“New Kimco”) will become the publicly traded parent company by way of an intercompany merger (the “Merger”), assuming the existing name of “Kimco Realty Corporation,” while the current corporation (“Old Kimco”) will convert to a limited liability company called “Kimco Realty OP LLC” (“Kimco OP”) controlled by the publicly traded parent company (the “Conversion”).

Kimco Realty Corporation stock has also gained 4.08% of its value over the past 7 days. However, KIM stock has inclined by 15.77% in the 3 months of the year. Over the past six months meanwhile, it has gained 7.81% and gained 3.64% year-on date.

The market cap for KIM stock reached $13.80 billion, with 615.83 million shares outstanding and 605.44 million shares in the current float. Compared to the average trading volume of 4.52M shares, KIM reached a trading volume of 6409610 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Kimco Realty Corporation [KIM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KIM shares is $23.91 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KIM stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Kimco Realty Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 17, 2023. While these analysts kept the previous recommendation, Mizuho dropped their target price from $22 to $21. The new note on the price target was released on January 10, 2023, representing the official price target for Kimco Realty Corporation stock. Previously, the target price had yet another raise to $22, while Credit Suisse analysts kept a Neutral rating on KIM stock.

The Average True Range (ATR) for Kimco Realty Corporation is set at 0.61, with the Price to Sales ratio for KIM stock in the period of the last 12 months amounting to 8.06. The Price to Book ratio for the last quarter was 1.39, with the Price to Cash per share for the same quarter was set at 0.20. Price to Free Cash Flow for KIM in the course of the last twelve months was 54.15.

KIM stock trade performance evaluation

Kimco Realty Corporation [KIM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.08. With this latest performance, KIM shares dropped by -0.27% in over the last four-week period, additionally plugging by 7.81% over the last 6 months – not to mention a drop of -13.00% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KIM stock in for the last two-week period is set at 55.66, with the RSI for the last a single of trading hit 58.65, and the three-weeks RSI is set at 54.19 for Kimco Realty Corporation [KIM]. The present Moving Average for the last 50 days of trading for this stock 21.68, while it was recorded at 21.28 for the last single week of trading, and 21.68 for the last 200 days.

Kimco Realty Corporation [KIM]: Insider Ownership positions

There are presently around $12,645 million, or 96.00% of KIM stock, in the hands of institutional investors. The top three institutional holders of KIM stocks are: VANGUARD GROUP INC with ownership of 101,285,767, which is approximately 0.831% of the company’s market cap and around 2.10% of the total institutional ownership; BLACKROCK INC., holding 60,055,372 shares of the stock with an approximate value of $1.32 billion in KIM stocks shares; and STATE STREET CORP, currently with $983.44 million in KIM stock with ownership of nearly -0.259% of the company’s market capitalization.

216 institutional holders increased their position in Kimco Realty Corporation [NYSE:KIM] by around 19,033,156 shares. Additionally, 223 investors decreased positions by around 26,374,681 shares, while 98 investors held positions by with 530,669,697 shares. The mentioned changes placed institutional holdings at 576,077,534 shares, according to the latest SEC report filing. KIM stock had 55 new institutional investments in for a total of 2,488,003 shares, while 52 institutional investors sold positions of 3,284,615 shares during the same period.

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