Mutual of America Capital Management LLC Decreases Holdings in Kimco Realty Corp (NYSE:KIM)

Mutual of America Capital Management LLC lowered its stake in Kimco Realty Corp (NYSE:KIM) by 3.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 84,169 shares of the real estate investment trust’s stock after selling 3,175 shares during the period. Mutual of America Capital Management LLC’s holdings in Kimco Realty were worth $1,638,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in shares of Kimco Realty by 71.0% in the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock worth $3,531,000 after acquiring an additional 74,729 shares during the last quarter. Vanguard Group Inc. lifted its stake in Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares during the last quarter. Evoke Wealth LLC purchased a new position in shares of Kimco Realty during the fourth quarter valued at approximately $4,181,000. Forsta AP Fonden grew its stake in shares of Kimco Realty by 232.9% during the first quarter. Forsta AP Fonden now owns 435,800 shares of the real estate investment trust’s stock valued at $8,546,000 after buying an additional 304,900 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Kimco Realty by 63.5% in the first quarter. BNP Paribas Financial Markets now owns 1,031,957 shares of the real estate investment trust’s stock worth $20,237,000 after buying an additional 400,825 shares during the period. 89.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on KIM. The Goldman Sachs Group upped their price objective on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Piper Sandler restated an “overweight” rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Finally, Scotiabank lifted their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.

Kimco Realty Trading Down 2.1 %

KIM opened at $22.87 on Friday. Kimco Realty Corp has a 12 month low of $16.34 and a 12 month high of $24.25. The stock has a fifty day moving average price of $22.54 and a 200-day moving average price of $20.23. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 4.03 and a beta of 1.51. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72.

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

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were paid a $0.24 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.20%. Kimco Realty’s dividend payout ratio (DPR) is 181.13%.

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the sale, the chief operating officer now owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

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.