Kimco Realty Corporation (NYSE:KIM) is included among the 13 Best Dividend Stocks to Buy Under $25.
On June 22, Wolfe Research upgraded Kimco Realty Corporation to Outperform from Peer Perform. It also set a $28 price target on the stock, implying a total return potential of 16%. The firm said Kimco’s fundamentals remain “strong,” while refinancing pressures tied to the company’s lower-rate Weingarten debt continue to ease. In a research note, the analyst also pointed to “muted” supply conditions and incremental store openings from major retailers as supportive factors for the company.
Earlier, on June 11, Stifel raised its price recommendation on Kimco Realty to $28 from $25.75. It reiterated a Buy rating on the stock. The update followed Kimco Realty’s pricing of a $525 million offering of 3.50% exchangeable senior unsecured notes due in 2031. The company expects net proceeds of about $513.5 million. According to the analyst, Kimco plans to use part of the proceeds to repurchase roughly 4.13 million shares, with the remaining funds allocated to general corporate purposes, including debt repayment and acquisitions.
Kimco Realty Corporation is a real estate investment trust (REIT) that owns and operates open-air, grocery-anchored shopping centers and mixed-use properties across the United States.
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