Kimco Realty Corporation [NYSE: KIM] closed the trading session at $19.36. The company report on March 27, 2024 at 6:50 AM that Kimco Realty® Announces First Quarter Transaction Activity Highlighted by the Sale of Ten Former RPT Properties for $248 Million.
– Achieves 2024 RPT Disposition Target Ahead of Schedule –– New Investment Activity Expected to Outpace Dispositions for Remainder of 2024 –.
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Kimco Realty® (NYSE: KIM) today announced the disposition of ten former RPT Realty (RPT) properties for an aggregate price of $248 million. These centers did not fully align with the company’s long-term investment goals. Pricing for the ten properties equated to an approximately 8.5% blended in-place cap rate. As part of these sales, Kimco invested approximately $67 million under its Structured Investment program on seven of the properties and expects to earn a 10% blended return on these investments. With these sales, the company has achieved its 2024 disposition target for former RPT properties.
The stocks have a year to date performance of -9.15 percent and weekly performance of -0.41 percent. The stock has been moved at 11.50 percent over the last six months. The stock has performed -1.02 percent around the most recent 30 days and changed -11.44 percent over the most recent 3-months.
If compared to the average trading volume of 6.02M shares, KIM reached to a volume of 5556313 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 $22.72 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 2.17. 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.
Citigroup have made an estimate for Kimco Realty Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 22, 2024. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on January 30, 2024, representing the official price target for Kimco Realty Corporation stock. Previously, the target price had yet another raise to $20, while Wells Fargo analysts kept a Equal Weight rating on KIM stock. On September 18, 2023, analysts decreased their price target for KIM shares from 21 to 20.
The Average True Range (ATR) for Kimco Realty Corporation is set at 0.41, with the Price to Sales ratio for KIM stock in the period of the last 12 months amounting to 7.26. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 1.16. Price to Free Cash Flow for KIM in the course of the last twelve months was 16.17.
KIM stock trade performance evaluation
Kimco Realty Corporation [KIM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.41. With this latest performance, KIM shares dropped by -1.02% in over the last four-week period, additionally plugging by 11.50% over the last 6 months – not to mention a rise of 7.02% 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 49.44, with the RSI for the last a single of trading hit 52.43, and the three-weeks RSI is set at 48.06 for Kimco Realty Corporation [KIM]. The present Moving Average for the last 50 days of trading for this stock 19.72, while it was recorded at 19.17 for the last single week of trading, and 19.38 for the last 200 days.
Earnings per share (EPS) analysis for Kimco Realty Corporation [KIM] stock
With the latest financial reports released by the company, Kimco Realty Corporation posted 0.46/share EPS, while the average EPS was predicted by analysts to be reported at 0.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 130.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KIM.
Kimco Realty Corporation [KIM]: Institutional Ownership
The top three institutional holders of KIM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in KIM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in KIM stock with ownership which is approximately 5.8325%.
