Analyst Juan C. Sanabria from BMO Capital maintained a Hold rating on Kimco Realty (KIM – Research Report) and keeping the price target at $25.00.
Juan C. Sanabria has given his Hold rating due to a combination of factors that reflect both positive and negative aspects of Kimco Realty’s recent performance. On the positive side, Kimco Realty has shown strong leasing activity and a significant year-over-year increase in same-store net operating income (SSNOI) by 3.9%. Additionally, the company has raised its full-year funds from operations (FFO) guidance above market expectations, indicating confidence in its financial outlook.
However, there are also some concerns that justify the Hold rating. The reduction in the same-store pool by 15 stores and the pullback in joint venture disclosures suggest potential challenges ahead. Furthermore, while the credit loss was below the full-year guidance, it remains a factor to watch. These mixed signals lead to a cautious stance, resulting in the Hold recommendation.
In another report released on April 23, Scotiabank also maintained a Hold rating on the stock with a $23.00 price target.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KIM in relation to earlier this year.