Kimco stock maintains Buy rating at UBS on redevelopment potential

Investing.com - UBS maintained its Buy rating and $30.00 price target on Kimco (NYSE:KIM), representing a 35% upside from the current price of $22.20, following a tour of the company’s Memorial Plaza property in Cambridge, Massachusetts. According to InvestingPro data, two analysts have recently revised their earnings expectations upward for the upcoming period.

The property, acquired by Kimco in 2014, demonstrates how "more modest shopping centers with great real estate can also drive mixed-use upside," according to UBS. The firm noted the site’s prime location along Memorial Drive, Cambridge’s main thoroughfare.

UBS highlighted the property’s proximity to major educational institutions, with Harvard, MIT, and Boston University campuses all within a 20-minute walk. Kimco has expanded its Boston-area presence through its RPT acquisition in 2024.

The investment firm pointed to residential development potential at Memorial Plaza, citing the neighborhood’s walkability, access to Magazine Beach, and views of the Charles River as supporting factors.

UBS believes these characteristics enhance both the underlying value of the property and its future development opportunities, reinforcing the firm’s positive outlook on Kimco stock.

In other recent news, Kimco Realty Corp. reported its earnings for the second quarter of 2025, exceeding earnings per share (EPS) estimates. The company achieved an EPS of $0.23, surpassing the forecasted $0.17 by 35.29%. However, revenue slightly missed expectations, although specific figures were not disclosed. In addition to the earnings announcement, S&P Global Ratings upgraded Kimco Realty to ’A-’ from ’BBB+’, citing the company’s strong operating performance and a well-positioned balance sheet. This upgrade reflects the healthy retail fundamentals and strong tenant demand that Kimco Realty has experienced. These recent developments provide a snapshot of the company’s current financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.