Wasatch Advisors LP Lowers Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Wasatch Advisors LP lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 33.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,575 shares of the real estate investment trust’s stock after selling 59,780 shares during the quarter. Wasatch Advisors LP’s holdings in Kimco Realty were worth $2,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tidal Investments LLC boosted its holdings in Kimco Realty by 18.1% in the 1st quarter. Tidal Investments LLC now owns 21,304 shares of the real estate investment trust’s stock valued at $418,000 after purchasing an additional 3,269 shares in the last quarter. Virtu Financial LLC purchased a new stake in Kimco Realty in the 1st quarter valued at approximately $265,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Kimco Realty by 4.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 55,398 shares of the real estate investment trust’s stock valued at $1,086,000 after purchasing an additional 2,133 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Kimco Realty by 4.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 395,627 shares of the real estate investment trust’s stock valued at $7,650,000 after purchasing an additional 16,876 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Kimco Realty by 52.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 773 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Down 0.8 %

KIM stock opened at $25.57 on Monday. The company has a market cap of $17.24 billion, a price-to-earnings ratio of 46.49, a PEG ratio of 3.35 and a beta of 1.50. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $24.14 and a 200-day simple moving average of $22.02. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83.

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

Kimco Realty Increases Dividend

The firm also recently declared 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 represents a $1.00 dividend on an annualized basis and a yield of 3.91%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is 174.55%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KIM shares. The Goldman Sachs Group lifted their price objective on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research note on Friday, August 16th. Truist Financial boosted their price target on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Evercore ISI boosted their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

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.