Last Updated: 14 Nov 2024
Executive Summary
Kimco Realty Corporation (KIM) is a real estate investment trust (REIT) that invests in shopping centers. The company's portfolio consists of approximately 400 properties located in 29 states and Puerto Rico. KIM is a publicly traded company on the New York Stock Exchange (NYSE) and has a market capitalization of approximately $16.6 billion.
Company Overview
KIM was founded in 1954 and is headquartered in New Hyde Park, New York. The company's primary business is the ownership and management of shopping centers. KIM's portfolio includes a mix of open-air and enclosed shopping centers, as well as mixed-use developments. The company's tenants include a variety of national and regional retailers, including grocery stores, department stores, and specialty retailers.
Fundamental Analysis
KIM's financial performance has been solid in recent years. The company's revenue has grown from $1.8 billion in 2019 to $1.96 billion in 2023. Net income has also increased from $400 million in 2019 to $500 million in 2023. KIM's profitability metrics are also strong. The company's gross profit margin is 61.0% and its operating margin is 33.7%.
KIM's balance sheet is also healthy. The company has a low level of debt and a strong cash position. KIM's debt-to-equity ratio is 35.0% and its current ratio is 1.2.
Technical Analysis
KIM's stock price has been trending higher in recent months. The stock is currently trading at $24.82, which is above its 50-day and 200-day moving averages. The stock's relative strength index (RSI) is 60.0, which indicates that the stock is overbought.
Short Term Outlook
KIM's stock price is likely to continue to trend higher in the short term. The company's financial performance is solid and the stock is trading above its moving averages. However, the stock's RSI is overbought, which could indicate that a pullback is possible.
Long Term Outlook
KIM's long-term outlook is positive. The company is a leader in the shopping center industry and is well-positioned to benefit from the continued growth of e-commerce. KIM's dividend yield is also attractive, which could make the stock a good investment for income investors.
Analyst Recommendations
Analysts are bullish on KIM's stock. The consensus recommendation is a buy, with a target price of $25.18.
