Kimco Realty Corp (NYSE:KIM) Holdings Trimmed by tru Independence LLC

tru Independence LLC reduced its holdings in Kimco Realty Corp (NYSE:KIM) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 277,027 shares of the real estate investment trust’s stock after selling 3,585 shares during the period. Kimco Realty makes up 1.6% of tru Independence LLC’s portfolio, making the stock its 27th largest holding. tru Independence LLC’s holdings in Kimco Realty were worth $5,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kentucky Retirement Systems lifted its position in shares of Kimco Realty by 1.3% during the 4th quarter. Kentucky Retirement Systems now owns 49,597 shares of the real estate investment trust’s stock valued at $1,057,000 after acquiring an additional 631 shares during the last quarter. Cascade Investment Advisors Inc. boosted its stake in shares of Kimco Realty by 1.1% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock valued at $1,110,000 after buying an additional 640 shares during the period. Checchi Capital Advisers LLC grew its holdings in shares of Kimco Realty by 5.0% during the 2nd quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 663 shares in the last quarter. Baker Ellis Asset Management LLC increased its stake in shares of Kimco Realty by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock worth $2,545,000 after acquiring an additional 680 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Kimco Realty by 17.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 717 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on KIM shares. Mizuho downgraded Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Piper Sandler reissued an “overweight” rating and issued a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Evercore ISI raised their price objective on shares of Kimco Realty from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Truist Financial boosted their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company increased their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.21.

Insider Activity at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were 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 in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Kimco Realty Stock Down 0.5 %

Kimco Realty stock opened at $22.99 on Friday. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 43.38, a P/E/G ratio of 3.96 and a beta of 1.51. The firm has a fifty day moving average price of $21.61 and a two-hundred day moving average price of $19.86. Kimco Realty Corp has a fifty-two week low of $16.34 and a fifty-two week high of $23.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). The business had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. As a group, analysts forecast that Kimco Realty Corp will post 1.62 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) 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.