Analyst Ki Bin Kim from Truist Financial maintained a Hold rating on Kimco Realty and keeping the price target at $25.00.
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Ki Bin Kim has given his Hold rating due to a combination of factors that reflect both positive developments and ongoing challenges for Kimco Realty. The company reported a strong quarter, surpassing expectations with improved funds from operations per share guidance and robust leasing activity. Additionally, Kimco’s strategy to sell a portion of its ground leases is seen as a potential catalyst that could enhance liquidity, although this is planned as an annual strategy rather than a one-time transaction.
Despite these positives, Kimco’s same-store net operating income growth lags behind some of its peers, such as Brixmor and Regency, which have been rated as Buy. While the company has shown encouraging results and offers an attractive valuation, the slightly higher interest expenses and competitive landscape contribute to the Hold rating. Overall, the rating reflects a balanced view of Kimco’s potential and the challenges it faces in the market.
In another report released today, BMO Capital also maintained a Hold rating on the stock with a $25.00 price target.