Piper Sandler Reiterates Overweight Rating on Kimco (KIM)

Piper Sandler analyst Alexander Goldfarb reiterated an Overweight rating and $26.00 price target on Kimco (NYSE: KIM).

The analyst commented: "KIM's increased focus on bottom line earnings and dividend growth, where initial investment yield accretion is critical to driving FFO, echoes a similar message from a small but growing number of REITs. Earlier this week, we hosted management for a day of meetings with institutional investors. While REITs face a tough backdrop for fund flows, given AI is hoovering up investors' wallets, shopping centers are experiencing some of the best fundamentals in decades. Bad debt remains subdued, demand strong (90% of 1H25 store closings have already been addressed), and shopper traffic up (tracked via Placer.ai). Management seeks to deliver top quartile earnings growth among shopping center peers, even in the face of refinancings. KIM's investment discipline is evident in the acquisition benefits of WRI and RPT, coupled with its multi-decade structured finance platform that expands its investment opportunities (>6% threshold). Thus, KIM shows it's all about cash."

For an analyst ratings summary and ratings history on Kimco click here. For more ratings news on Kimco click here.

Shares of Kimco closed at $19.87 yesterday.

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