The stock of Kimco Realty Corp (NYSE:KIM) gapped down by $0.31 today and has $25.85 target or 8.00% below today’s $28.10 share price. The 8 months technical chart setup indicates high risk for the $11.82 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $25.85 price target is reached, the company will be worth $945.60M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.07% or $0.59 during the last trading session, hitting $28.1. Kimco Realty Corp (NYSE:KIM) has risen 2.59% since March 1, 2016 and is uptrending. It has underperformed by 9.62% the S&P500.
Analysts await Kimco Realty Corp (NYSE:KIM) to report earnings on October, 27 after the close. They expect $0.36 earnings per share, 0.00% or $0.00 from last year’s $0.36 per share. KIM’s profit will be $151.43 million for 19.51 P/E if the $0.36 EPS becomes a reality. After $0.38 actual earnings per share reported by Kimco Realty Corp for the previous quarter, Wall Street now forecasts -5.26% negative EPS growth.
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. Kimco Realty has been the topic of 17 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating by JP Morgan given on Thursday, August 11. Deutsche Bank maintained Kimco Realty Corp (NYSE:KIM) on Wednesday, August 17 with “Hold” rating. As per Wednesday, July 22, the company rating was initiated by Canaccord Genuity. As per Tuesday, September 8, the company rating was maintained by Evercore. BTIG Research initiated Kimco Realty Corp (NYSE:KIM) rating on Thursday, August 25. BTIG Research has “Buy” rating and $34 price target. The rating was downgraded by Zacks to “Buy” on Monday, August 24. Argus Research upgraded the shares of KIM in a report on Wednesday, December 16 to “Buy” rating. The stock has “Neutral” rating given by Boenning & Scattergood on Tuesday, June 28. Barclays Capital maintained it with “Overweight” rating and $31.0 target price in Tuesday, December 15 report. The stock has “Overweight” rating given by Barclays Capital on Tuesday, July 19.
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.”
Insitutional Activity: The institutional sentiment decreased to 1.15 in 2016 Q2. Its down 0.08, from 1.23 in 2016Q1. The ratio turned negative, 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.
Mufg Americas Hldgs has 0.01% invested in the company for 5,100 shares. Raymond James And Assoc holds 0.03% or 269,561 shares in its portfolio. Nomura Asset Mngmt Company owns 340,305 shares or 0.2% of their US portfolio. Manufacturers Life Co The, a Ontario – Canada-based fund reported 445,777 shares. The Pennsylvania-based Concannon Wealth Mngmt Ltd has invested 0.06% in Kimco Realty Corp (NYSE:KIM). The Germany-based Commerzbank Aktiengesellschaft Fi has invested 0% in Kimco Realty Corp (NYSE:KIM). Century Companies has 2.33 million shares for 0.08% of their US portfolio. State Of Wisconsin Investment Board holds 402,984 shares or 0.05% of its portfolio. Gsa Cap Prns Ltd Liability Partnership owns 59,676 shares or 0.1% of their US portfolio. Raymond James Na last reported 0.03% of its portfolio in the stock. Rhumbline Advisers holds 0.06% of its portfolio in Kimco Realty Corp (NYSE:KIM) for 614,443 shares. Tocqueville Asset Mgmt L P owns 33,957 shares or 0.01% of their US portfolio. Guardian Life Insurance Of America reported 1,551 shares or 0% of all its holdings. Canada Pension Plan Inv Board has invested 0.08% of its portfolio in Kimco Realty Corp (NYSE:KIM). Moreover, Royal Savings Bank Of Canada has 0% invested in Kimco Realty Corp (NYSE:KIM) for 221,403 shares.
Insider Transactions: Since May 9, 2016, the stock had 1 buy, and 1 sale for $1.70 million net activity. Shares for $1.73M were sold by Flynn Conor C. COVIELLO PHILIP E JR also bought $31,167 worth of Kimco Realty Corp (NYSE:KIM) shares.
More notable recent Kimco Realty Corp (NYSE:KIM) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Brandywine Realty Trust, National General Holdings and …” on September 29, 2016, also Businesswire.com with their article: “Kimco Realty Invites Retail & Real Estate Professionals to Enter its Annual …” published on September 26, 2016, Businesswire.com published: “Correction: Fitch Rates Kimco’s Senior Unsecured Bonds due 2026 ‘BBB+'” on September 26, 2016. More interesting news about Kimco Realty Corp (NYSE:KIM) were released by: Businesswire.com and their article: “Kimco Realty Corporation to Present at Barclays Global Financial Services …” published on September 08, 2016 as well as Businesswire.com‘s news article titled: “Kimco Realty Corporation to Present at Bank of America Merrill Lynch Global …” with publication date: September 12, 2016.
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.
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