Many stocks have been testing new highs in 2020, and one of the most notable is Kimco Realty Corporation (KIM). Currently, KIM is trading at $15.69 and the avg recommendation for the stock is Hold. while the current analyst price target stands at $11.65.
To add more color to this target, the company’s high over the last year is $21.86 and the low is $7.45. Over the last 52 weeks, KIM is down -28.23% while the S&P 500 is up 1.21%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, KIM reported a profit of $115.31 million. Kimco Realty Corporation also saw revenues increase to $289.74 million. In addition, KIM has free cash flow of $76.63 million as of 03-2020 The company’s EBITDA came in at $184.71 million which compares well with its peers.
KIM booked profit margins of 27.70%, its Return on Equity (ROE) is 6.40%, and its Return on Assets is 2.90%. All told, it is clear that, KIM needs to be on your watchlist.
About Kimco Realty Corporation
If readers are unfamiliar, Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is one of North America’s largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets. As of March 31, 2020, the company owned interests in 401 U.S. shopping centers and mixed-use assets comprising 70 million square feet of gross leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 60 years.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. KIM has a short ratio of 1.77 and outstanding shares of 429.74M.
KIM has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 13.49 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.75. Investors should also keep an eye on sector updates as KIM has historically followed its peers on positive news.
All told, Kimco Realty Corporation KIM has strung together solid data and demonstrated underlying fundamentals. At its current valuation, KIM represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Kimco Realty Corporation KIM is now commanding a market cap of 6.74B and a float of 420.64M. KIM is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of KIM stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in KIM, either long or short, and we have not been compensated for this article.