Pitcairn Co. Has $325,000 Stake in Kimco Realty Corp (NYSE:KIM)

Pitcairn Co. lowered its holdings in Kimco Realty Corp (NYSE:KIM) by 10.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,001 shares of the real estate investment trust’s stock after selling 1,703 shares during the quarter. Pitcairn Co.’s holdings in Kimco Realty were worth $325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KIM. Catalyst Capital Advisors LLC acquired a new position in shares of Kimco Realty during the third quarter valued at about $25,000. Blue Trust Inc. lifted its position in Kimco Realty by 613.5% in the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Kimco Realty by 52.6% during 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 during the last quarter. Castleview Partners LLC bought a new stake in Kimco Realty during the 3rd quarter worth approximately $77,000. Finally, UMB Bank n.a. raised its stake in shares of 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 purchasing an additional 1,787 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

Kimco Realty stock opened at $25.46 on Wednesday. The firm has a market cap of $17.16 billion, a P/E ratio of 46.29, a P/E/G ratio of 3.32 and a beta of 1.50. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.58. The firm has a 50-day moving average of $24.00 and a 200-day moving average of $21.88. 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 released 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 the consensus estimate of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. Kimco Realty’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. Sell-side analysts expect that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.93%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty’s dividend payout ratio is presently 181.82%.

Analyst Ratings Changes

Several research analysts recently issued reports on KIM shares. Scotiabank lifted their target price on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and increased their target price for the company from $20.00 to $23.00 in a report on Monday, August 19th. Compass Point boosted their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Argus upgraded Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Finally, UBS Group increased their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.33.

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.