Rating Flow: Is Goldman Sachs Very Negative For Kimco Realty (NYSE:KIM) After Its Downgrade?

November 29, 2016 - By Ruchi Gupta

Rating Flow: Is Goldman Sachs Very Negative For Kimco Realty (NYSE:KIM) After Its Downgrade?

Kimco Realty (NYSE:KIM) Downgrade

In a analysts note released on 29 November, Goldman Sachs downgraded 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 16.05% above today’s ($26.1) 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 “Buy” rating by Argus Research on Wednesday, December 16. The rating was downgraded by Zacks on Monday, August 24 to “Buy”. The stock of Kimco Realty Corp (NYSE:KIM) earned “Overweight” rating by Barclays Capital on Tuesday, July 19. The stock has “Hold” rating given by Deutsche Bank on Wednesday, August 17. The firm earned “Buy” rating on Wednesday, July 22 by Canaccord Genuity. On Tuesday, June 28 the stock rating was initiated by Boenning & Scattergood with “Neutral”. The company was maintained on Tuesday, September 8 by Evercore. The rating was initiated by BTIG Research on Thursday, August 25 with “Buy”. The company was maintained on Tuesday, December 15 by Barclays Capital. JP Morgan maintained Kimco Realty Corp (NYSE:KIM) on Thursday, August 11 with “Overweight” rating.

About 3.32 million shares traded hands. 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 $173.65 million for 15.91 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 fall, 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.

Fjarde Ap has invested 0.07% of its portfolio in Kimco Realty Corp (NYSE:KIM). Arizona State Retirement Sys reported 102,986 shares or 0.05% of all its holdings. Swiss Bancshares reported 1.16M shares or 0.06% of all its holdings. Natl Pension Service last reported 316,600 shares in the company. Gulf State Bank (Uk) Ltd accumulated 120,444 shares or 0.06% of the stock. The Massachusetts-based Inv has invested 0.16% in Kimco Realty Corp (NYSE:KIM). Royal London Asset Mgmt Ltd has invested 0.07% of its portfolio in Kimco Realty Corp (NYSE:KIM). Amer Registered Advisor, a Texas-based fund reported 19,000 shares. Federated Invsts Incorporated Pa reported 15,418 shares or 0% of all its holdings. Schwab Charles accumulated 0.11% or 2.89M shares. Anchor Advisors Limited Co holds 0.01% or 12,767 shares in its portfolio. Lasalle Investment Management Ltd Com has 93,700 shares for 0.03% of their US portfolio. Moreover, Richard Bernstein Advisors Llc has 0.25% invested in Kimco Realty Corp (NYSE:KIM) for 82,498 shares. Deutsche State Bank Ag has 2.34 million shares for 0.05% of their US portfolio. Moreover, Putnam Limited Com has 0.02% invested in Kimco Realty Corp (NYSE:KIM) for 222,786 shares.

Insider Transactions: Since August 8, 2016, the stock had 1 buy, and 0 sales for $31,167 net activity. 1,000 shares were bought by COVIELLO PHILIP E JR, worth $31,167.

Kimco Realty Corporation is a real estate investment trust. The company has a market cap of $11.05 billion. The Firm is engaged principally in the ownership, management, development and operation of open-air shopping centers. It has a 21.33 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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