Everence Capital Management Inc. Trims Holdings in Kimco Realty Corp (NYSE:KIM)

Everence Capital Management Inc. reduced its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 33.8% in the fourth quarter, HoldingsChannel reports. The fund owned 14,850 shares of the real estate investment trust’s stock after selling 7,570 shares during the period. Everence Capital Management Inc.’s holdings in Kimco Realty were worth $348,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock valued at $1,048,797,000 after purchasing an additional 882,047 shares during the last quarter. FMR LLC raised its stake in Kimco Realty by 6.1% during the third quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after buying an additional 1,283,352 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kimco Realty by 0.3% in the third quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock worth $398,468,000 after acquiring an additional 53,378 shares in the last quarter. APG Asset Management US Inc. grew its stake in shares of Kimco Realty by 1.6% in the second quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock worth $288,155,000 after acquiring an additional 240,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Kimco Realty by 11.7% during the second quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after acquiring an additional 1,193,600 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on KIM. Jefferies Financial Group downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and cut their price objective for the company from $28.00 to $25.00 in a research report on Thursday, January 2nd. Robert W. Baird raised their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. UBS Group upped their price objective on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price for the company. in a report on Friday, December 20th. Finally, Mizuho upped their price target on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.84.

Kimco Realty Stock Down 3.6 %

Shares of KIM stock opened at $22.33 on Tuesday. 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 Corp has a 12 month low of $17.57 and a 12 month high of $25.83. The stock has a market cap of $15.05 billion, a P/E ratio of 40.60, a P/E/G ratio of 3.22 and a beta of 1.51. The company has a 50 day simple moving average of $24.41 and a two-hundred day simple moving average of $22.97.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.22). The company had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. On average, research analysts expect 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 was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.25 per share. 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 4.48%. The ex-dividend date was Thursday, December 5th. Kimco Realty’s payout ratio is presently 181.82%.

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.