Follow The Ratings: Kimco Realty (NYSE:KIM) Is a Stock Goldman Sachs Is Wary of; Firm Downgrades It

November 29, 2016 - By Dolores Ford

Follow The Ratings: Kimco Realty (NYSE:KIM) Is a Stock Goldman Sachs Is Wary of; Firm Downgrades It

Kimco Realty (NYSE:KIM) Downgrade

In a a research report made public on Tuesday, 29 November, Goldman Sachs cut shares of Kimco Realty (NYSE:KIM) to a Sell rating from a Neutral rating.

Kimco Realty Corp (NYSE:KIM) Ratings Coverage

Out of 8 analysts covering Kimco Realty (NYSE:KIM), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. $34 is the highest target while $25 is the lowest. The $30.29 average target is 16.32% above today’s ($26.04) stock price. Kimco Realty has been the topic of 18 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Kimco Realty Corp (NYSE:KIM) earned “Overweight” rating by JP Morgan on Thursday, August 11. The firm has “Hold” rating by Evercore given on Tuesday, September 8. The stock of Kimco Realty Corp (NYSE:KIM) has “Buy” rating given on Monday, August 24 by Zacks. The firm has “Buy” rating given on Wednesday, July 22 by Canaccord Genuity. As per Tuesday, July 19, the company rating was maintained by Barclays Capital. Argus Research upgraded Kimco Realty Corp (NYSE:KIM) on Friday, November 25 to “Buy” rating. The firm earned “Overweight” rating on Tuesday, December 15 by Barclays Capital. The firm has “Hold” rating by Deutsche Bank given on Wednesday, August 17. On Thursday, August 25 the stock rating was initiated by BTIG Research with “Buy”. Boenning & Scattergood initiated Kimco Realty Corp (NYSE:KIM) on Tuesday, June 28 with “Neutral” rating.

The stock decreased 0.86% or $0.22 during the last trading session, hitting $26.04. About 5.86M shares traded hands or 49.49% up from the average. Kimco Realty Corp (NYSE:KIM) has declined 8.12% since April 26, 2016 and is downtrending. It has underperformed by 13.38% the S&P500.

Analysts await Kimco Realty Corp (NYSE:KIM) to report earnings on February, 2 after the close. They expect $0.41 EPS, up 10.81% or $0.04 from last year’s $0.37 per share. KIM’s profit will be $173.67 million for 15.88 P/E if the $0.41 EPS becomes a reality. After $0.38 actual EPS reported by Kimco Realty Corp for the previous quarter, Wall Street now forecasts 7.89% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.07 in 2016 Q2. Its down 0.08, from 1.15 in 2016Q1. The ratio dropped, as 34 funds sold all Kimco Realty Corp shares owned while 117 reduced positions. 28 funds bought stakes while 146 increased positions. They now own 390.69 million shares or 2.17% more from 382.41 million shares in 2016Q1.

Arrow Fincl Corporation holds 0% of its portfolio in Kimco Realty Corp (NYSE:KIM) for 120 shares. Umb Fincl Bank N A Mo holds 129,745 shares or 0.17% of its portfolio. Fmr Ltd Liability Corporation, a Massachusetts-based fund reported 15.16M shares. Caisse De Depot Et Placement Du Quebec reported 73,769 shares or 0.01% of all its holdings. Pro Inc last reported 4,000 shares in the company. Benjamin F Edwards & Communications Incorporated reported 800 shares or 0% of all its holdings. Apg Asset Mngmt Nv reported 1.71M shares or 0.1% of all its holdings. Td Asset Management has 183,883 shares for 0.01% of their US portfolio. Norinchukin Fincl Bank The last reported 0.01% of its portfolio in the stock. Goodwin Daniel L has 0.07% invested in the company for 7,000 shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh owns 233,905 shares or 0.67% of their US portfolio. Ny State Teachers Retirement holds 0.06% of its portfolio in Kimco Realty Corp (NYSE:KIM) for 783,808 shares. Tarbox accumulated 53 shares or 0% of the stock. Arizona State Retirement Sys last reported 102,986 shares in the company. Cibc Asset Inc, a Ontario – Canada-based fund reported 43,982 shares.

Insider Transactions: Since August 8, 2016, the stock had 1 buying transaction, and 0 sales for $31,167 net activity. $31,167 worth of shares were bought by COVIELLO PHILIP E JR on Monday, August 8.

Kimco Realty Corporation is a real estate investment trust. The company has a market cap of $11.03 billion. The Firm is engaged principally in the ownership, management, development and operation of open-air shopping centers. It has a 21.28 P/E ratio. The Firm holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area , located in approximately 40 states of the United States, Puerto Rico and Canada.

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.”

KIM Company Profile

Kimco Realty Corporation, incorporated on March 25, 1994, is a real estate investment trust. The Firm is engaged principally in the ownership, management, development and operation of open-air shopping centers. The Firm holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area (GLA), located in approximately 40 states of the United States, Puerto Rico and Canada.

Another recent and important Kimco Realty Corp (NYSE:KIM) news was published by Forbes.com which published an article titled: “Short Interest In Kimco Realty Drops 10.3%” on November 28, 2016.

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