Kimco Realty Corporation (NYSE: KIM) Stock Forecast: By 2024, Bulls Expect $28 Per Share

In the last trading session, 7.7 million shares of the Kimco Realty Corporation (NYSE:KIM) were traded, and its beta was 1.43. Most recently the company’s share price was $19.09, and it changed around -$0.52 or -2.65% from the last close, which brings the market valuation of the company to $12.87B. KIM currently trades at a discount to its 52-week high of $22.83, offering almost -19.59% off that amount. The share price’s 52-week low was $16.27, which indicates that the current value has risen by an impressive 14.77% since then. We note from Kimco Realty Corporation’s average daily trading volume that its 10-day average is 5.72 million shares, with the 3-month average coming to 6.02 million.

Kimco Realty Corporation stock received a consensus recommendation rating of Hold, based on a mean score of 2.17. If we narrow it down even further, the data shows that 0 out of 21 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 13 recommended KIM as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Kimco Realty Corporation is expected to report earnings per share of $0.18 for the current quarter.

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Kimco Realty Corporation (NYSE:KIM) trade information

Instantly KIM has showed a red trend with a performance of -2.65% at the end of last trading. On the other hand, Kimco Realty Corporation (NYSE:KIM) is -3.39% down in the 30-day period. We can see from the shorts that 16.49 million shares have been sold at a short interest cover period of 3.21 day(s).

The consensus price target as assigned by Wall Street analysts is $24.95, which translates to bulls needing to increase their stock price by 23.49% from its current value. Analyst projections state that KIM is forecast to be at a low of $22 and a high of $28.

Kimco Realty Corporation (KIM) estimates and forecasts

Kimco Realty Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 8.76 percent over the past six months and at a 0.64% annual growth rate that is well above the industry average of -0.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -60.90% in revenue this quarter, and will report an increase of 12.50% in the next quarter. The year-over-year growth rate is expected to be 7.80%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $477.27 million in revenue for the current quarter. 9 analysts expect Kimco Realty Corporation to make $477.33 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $442.89 million and $439.01 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.80%. Forecasts for the next quarter put sales growth at 8.70%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -0.05%.

KIM Dividends

Kimco Realty Corporation’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 4.92 percent and its annual dividend per share was 0.94. It is important to note, however, that the 4.92% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 2.17% of Kimco Realty Corporation shares, and 90.66% of them are in the hands of institutional investors. The stock currently has a share float of 92.68%. Kimco Realty Corporation stock is held by 811 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 16.31% of the shares, which is about 101.11 million shares worth $1.99 billion.

Blackrock Inc., with 9.83% or 60.93 million shares worth $1.2 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 26.12 million shares worth $529.24 million, making up 4.21% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 19.29 million shares worth around $380.35 million, which represents about 3.11% of the total shares outstanding.