Kentucky Retirement Systems Insurance Trust Fund Sells 1,567 Shares of Kimco Realty Corp (NYSE:KIM)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of Kimco Realty Corp (NYSE:KIM) by 7.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 19,959 shares of the real estate investment trust’s stock after selling 1,567 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kimco Realty were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KIM. Catalyst Capital Advisors LLC bought a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $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 worth $41,000 after buying an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 773 shares during the last quarter. UMB Bank n.a. lifted its position in Kimco Realty by 112.6% in the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 1,787 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Kimco Realty by 378.3% in the second 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 during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on KIM shares. Evercore ISI lifted their target price on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company raised their price target on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Raymond James upgraded 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. The Goldman Sachs Group raised their price target on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Argus upgraded Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.14.

Kimco Realty Trading Down 0.2 %

Shares of NYSE:KIM opened at $25.05 on Wednesday. Kimco Realty Corp has a 12-month low of $17.57 and a 12-month high of $25.19. The company has a market capitalization of $16.88 billion, a PE ratio of 45.54, a PEG ratio of 3.28 and a beta of 1.50. The business has a 50 day moving average of $23.81 and a two-hundred day moving average of $21.62. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

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

Kimco Realty Increases Dividend

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

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.