Massachusetts Financial Services Co. MA Sells 408,731 Shares of Kimco Realty Corp (NYSE:KIM)

Massachusetts Financial Services Co. MA cut its position in Kimco Realty Corp (NYSE:KIM) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,534,915 shares of the real estate investment trust’s stock after selling 408,731 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Kimco Realty were worth $174,961,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in shares of Kimco Realty in the 3rd quarter valued at about $25,000. Blue Trust Inc. grew its holdings in Kimco Realty by 613.5% during the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,816 shares during the period. EverSource Wealth Advisors LLC increased its position in Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 773 shares during the last quarter. UMB Bank n.a. raised its stake in Kimco Realty by 112.6% in the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 1,787 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Kimco Realty by 378.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 3,144 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Trading Up 0.2 %

Shares of Kimco Realty stock opened at $25.37 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 12-month low of $17.57 and a 12-month high of $25.46. The company has a market capitalization of $17.10 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 3.28 and a beta of 1.50. The firm’s 50-day moving average price is $23.91 and its two-hundred day moving average price is $21.71.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. During the same period last year, the business earned $0.40 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. On average, analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.25 per share. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is currently 174.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Argus upgraded Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Scotiabank increased their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Piper Sandler restated an “overweight” rating and set a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Finally, UBS Group increased their target price on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.14.

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.