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Why Kimco Realty Corporation (NYSE: KIM) Should Be On Your Watchlist

During the recent session, Kimco Realty Corporation (NYSE:KIM)’s traded shares were 0.77 million, with the beta value of the company hitting 1.45. At the last check today, the stock’s price was $17.67, reflecting an intraday loss of -2.00% or -$0.36. The 52-week high for the KIM share is $23.80, that puts it down -34.69 from that peak though still a striking 1.87% gain since the share price plummeted to a 52-week low of $17.34. The company’s market capitalization is $11.21B, and the average intraday trading volume over the past 10 days was 4.26 million shares, and the average trade volume was 4.58 million shares over the past three months.

Kimco Realty Corporation (KIM) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. KIM has a Sell rating from 1 analyst(s) out of 25 analysts who have looked at this stock. 13 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.14.

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Kimco Realty Corporation (NYSE:KIM) trade information

Kimco Realty Corporation (KIM) registered a -2.00% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.00% in intraday trading to $17.67 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -3.86%, and it has moved by -5.31% in 30 days. Based on these gigs, the overall price performance for the year is -20.97%. The short interest in Kimco Realty Corporation (NYSE:KIM) is 15.97 million shares and it means that shorts have 3.55 day(s) to cover.

The consensus price target of analysts on Wall Street is $22.39, which implies an increase of 21.08% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $18.00 and $26.00 respectively. As a result, KIM is trading at a discount of -47.14% off the target high and -1.87% off the low.

Kimco Realty Corporation (KIM) estimates and forecasts

Statistics show that Kimco Realty Corporation has underperformed its competitors in share price, compared to the industry in which it operates. Kimco Realty Corporation (KIM) shares have gone down -22.21% during the last six months, with a year-to-date growth rate less than the industry average at -1.27% against -0.60. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 166.70% this quarter and then jump 100.00% in the quarter after that. In the rating firms’ projections, revenue will increase 3.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $436.8 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $439.16 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $423.27 million and $429.04 million respectively. In this case, analysts expect current quarter sales to grow by 3.20% and then jump by 2.40% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -28.90%. While earnings are projected to return -90.00% in 2023.

KIM Dividends

Kimco Realty Corporation is due to release its next quarterly earnings between July 26 and July 31. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Kimco Realty Corporation is 0.92, with the dividend yield indicating at 5.10 percent, continuing the trend of increasing dividends in recent years.

Kimco Realty Corporation (NYSE:KIM)’s Major holders

Kimco Realty Corporation insiders own 2.24% of total outstanding shares while institutional holders control 96.75%, with the float percentage being 98.97%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 805 institutions own stock in it. As of Mar 30, 2023, the company held over 102.72 million shares (or 16.57% of all shares), a total value of $1.82 billion in shares.

The next largest institutional holding, with 63.15 million shares, is of Blackrock Inc.’s that is approximately 10.19% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.12 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Kimco Realty Corporation (KIM) shares are Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund. Data provided on Jan 30, 2023 indicates that Vanguard Specialized-Real Estate Index Fund owns about 27.58 million shares. This amounts to just over 4.45 percent of the company’s overall shares, with a $487.96 million market value. The same data shows that the other fund manager holds slightly less at 18.77 million, or about 3.03% of the stock, which is worth about $332.04 million.

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