Vanguard Group Inc. Sells 572,564 Shares of Kimco Realty Corp (NYSE:KIM)

Vanguard Group Inc. decreased its position in shares of Kimco Realty Corp (NYSE:KIM) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,019,819 shares of the real estate investment trust’s stock after selling 572,564 shares during the period. Vanguard Group Inc. owned 16.17% of Kimco Realty worth $2,554,334,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in KIM. Stevens Capital Management LP purchased a new position in shares of Kimco Realty during the 4th quarter valued at $207,000. LPL Financial LLC lifted its position in shares of Kimco Realty by 23.6% in the fourth quarter. LPL Financial LLC now owns 132,205 shares of the real estate investment trust’s stock valued at $3,098,000 after acquiring an additional 25,254 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Kimco Realty in the fourth quarter worth about $853,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Kimco Realty during the fourth quarter worth about $14,110,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Kimco Realty during the fourth quarter worth about $4,870,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group downgraded Kimco Realty from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Mizuho cut their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Evercore ISI cut their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Finally, Citigroup dropped their price target on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Ten analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Kimco Realty Stock Performance

Shares of NYSE:KIM opened at $21.19 on Wednesday. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 2.78 and a beta of 1.53. Kimco Realty Corp has a 12 month low of $17.57 and a 12 month high of $25.83. The firm’s 50-day moving average is $21.83 and its 200 day moving average is $23.17.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Research analysts predict that Kimco Realty Corp will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Friday, March 7th. Kimco Realty’s payout ratio is presently 178.57%.

Kimco Realty 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.