DNB Asset Management AS Boosts Position in Kimco Realty Corp (NYSE:KIM)

DNB Asset Management AS lifted its position in Kimco Realty Corp (NYSE:KIM) by 19.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,796 shares of the real estate investment trust’s stock after purchasing an additional 18,586 shares during the quarter. DNB Asset Management AS’s holdings in Kimco Realty were worth $2,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Kimco Realty in the 4th quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new stake in Kimco Realty in the fourth quarter valued at $27,000. Principal Securities Inc. acquired a new position in shares of Kimco Realty in the 4th quarter valued at $29,000. Criterion Capital Advisors LLC acquired a new position in shares of Kimco Realty in the 4th quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Kimco Realty by 52.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 773 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on KIM. Truist Financial decreased their price target on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Mizuho lowered their target price on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Piper Sandler restated an “overweight” rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.98.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the transaction, the chief operating officer now owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.20% of the company’s stock.

Kimco Realty Stock Up 2.8 %

NYSE:KIM traded up $0.59 during trading hours on Tuesday, hitting $21.74. The company’s stock had a trading volume of 7,412,649 shares, compared to its average volume of 4,895,508. The stock has a market capitalization of $14.66 billion, a P/E ratio of 41.02, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $19.81 and a 200-day moving average of $19.44. Kimco Realty Corp has a 52-week low of $16.34 and a 52-week high of $22.83.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.23). Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. During the same quarter in the previous year, the company posted $0.39 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Kimco Realty Corp will post 1.6 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s payout ratio is currently 181.13%.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.