Fintel reports that on August 16, 2023, Goldman Sachs downgraded their outlook for Kimco Realty (NYSE:KIM) from Buy to Neutral.

Analyst Price Forecast Suggests 18.05% Upside

As of August 2, 2023, the average one-year price target for Kimco Realty is 23.39. The forecasts range from a low of 20.20 to a high of $27.30. The average price target represents an increase of 18.05% from its latest reported closing price of 19.81.

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The projected annual revenue for Kimco Realty is 1,750MM, a decrease of 0.51%. The projected annual non-GAAP EPS is 0.71.

What is the Fund Sentiment?

There are 1144 funds or institutions reporting positions in Kimco Realty. This is a decrease of 23 owner(s) or 1.97% in the last quarter. Average portfolio weight of all funds dedicated to KIM is 0.27%, a decrease of 7.80%. Total shares owned by institutions decreased in the last three months by 2.17% to 645,241K shares. The put/call ratio of KIM is 4.70, indicating a bearish outlook.

What are Other Shareholders Doing?

Cohen & Steers holds 45,471K shares representing 7.34% ownership of the company. In it’s prior filing, the firm reported owning 32,728K shares, representing an increase of 28.02%. The firm increased its portfolio allocation in KIM by 36.84% over the last quarter.

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 27,180K shares representing 4.38% ownership of the company. In it’s prior filing, the firm reported owning 27,584K shares, representing a decrease of 1.49%. The firm decreased its portfolio allocation in KIM by 6.71% over the last quarter.

Jpmorgan Chase holds 25,226K shares representing 4.07% ownership of the company. In it’s prior filing, the firm reported owning 22,316K shares, representing an increase of 11.53%. The firm increased its portfolio allocation in KIM by 1.81% over the last quarter.

Capital Research Global Investors holds 20,029K shares representing 3.23% ownership of the company. In it’s prior filing, the firm reported owning 20,022K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in KIM by 12.90% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 19,125K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 18,770K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in KIM by 13.25% over the last quarter.

Kimco Realty Background Information
(This description is provided by the company.)

Kimco Realty Corp. 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 December 31, 2020, the company owned interests in 400 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 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.

This article originally appeared on Fintel

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