Barclays Thinks Kimco Realty’s Stock is Going to Recover

By Carrie Williams

In a report released today, Ross L Smotrich from Barclays reiterated a Buy rating on Kimco Realty (NYSE: KIM), with a price target of $22. The company’s shares opened today at $18.03, close to its 52-week high of $32.24.

According to TipRanks.com, Smotrich is a 5-star analyst with an average return of 9.1% and a 67.9% success rate. Smotrich covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate ate Investment, Apartment Investment & Management, and General Growth Properties Inc.

Currently, the analyst consensus on Kimco Realty is Strong Buy and the average price target is $26.75, representing a 48.4% upside.

In a report issued on June 19, RBC Capital also reiterated a Buy rating on the stock with a $26 price target.

Based on Kimco Realty’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $294 million and quarterly net profit of $64.33 million. In comparison, last year the company earned revenue of $297 million and had a net profit of $113 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KIM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Kimco Realty Corp. is a real estate investment trust company, which engages in the ownership and operation of open-air shopping centers. It also specializes in shopping center acquisitions, development and management. The company was founded by Milton Cooper and Martin S. Kimmel in 1973 and is headquartered in New Hyde Park, NY.