Citigroup Inc. Cuts Stock Position in Kimco Realty Corp (NYSE:KIM)

Citigroup Inc. trimmed its position in Kimco Realty Corp (NYSE:KIM) by 29.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 501,406 shares of the real estate investment trust’s stock after selling 212,313 shares during the period. Citigroup Inc.’s holdings in Kimco Realty were worth $11,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Kimco Realty in the 3rd quarter worth $25,000. Blue Trust Inc. lifted its position in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,816 shares during the period. 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. UMB Bank n.a. increased its position in Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,787 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Kimco Realty by 378.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 3,144 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Trading Up 1.3 %

Shares of KIM stock opened at $25.78 on Friday. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 46.87, a PEG ratio of 3.34 and a beta of 1.50. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $24.10 and a 200 day moving average price of $21.94. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.80.

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 the consensus estimate of $0.41 by ($0.22). The firm had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. Research 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 declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.25 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. This represents a $1.00 annualized dividend and a yield of 3.88%. Kimco Realty’s payout ratio is 174.55%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KIM shares. Robert W. Baird upped their price objective on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. UBS Group raised their price objective on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company upped their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Scotiabank lifted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Kimco Realty currently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

About Kimco Realty

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.