Kentucky Retirement Systems Cuts Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Kentucky Retirement Systems decreased its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,962 shares of the real estate investment trust’s stock after selling 3,329 shares during the quarter. Kentucky Retirement Systems’ holdings in Kimco Realty were worth $1,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in Kimco Realty in the first quarter valued at approximately $200,043,000. Janus Henderson Group PLC lifted its position in Kimco Realty by 3,711.4% in the first quarter. Janus Henderson Group PLC now owns 2,828,917 shares of the real estate investment trust’s stock valued at $55,462,000 after purchasing an additional 2,754,695 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Kimco Realty by 43.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust’s stock valued at $154,583,000 after purchasing an additional 2,400,752 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Kimco Realty by 30.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,846,943 shares of the real estate investment trust’s stock valued at $114,659,000 after purchasing an additional 1,381,490 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Kimco Realty by 71.5% in the second quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock valued at $54,345,000 after purchasing an additional 1,164,029 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Down 0.2 %

KIM stock opened at $25.05 on Wednesday. Kimco Realty Corp has a fifty-two week low of $17.57 and a fifty-two week high of $25.19. The business’s 50-day moving average is $23.81 and its two-hundred day moving average is $21.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The company has a market cap of $16.88 billion, a price-to-earnings ratio of 45.54, a P/E/G ratio of 3.28 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share 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 in the prior year, the company posted $0.40 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.99%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is 174.55%.

Analysts Set New Price Targets

KIM has been the subject of several recent research reports. Argus upgraded Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Friday, August 16th. Mizuho downgraded Kimco Realty from an “outperform” rating to a “neutral” rating and upped their target price for the company from $20.00 to $23.00 in a report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their target price on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Kimco Realty 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.