Adelante Capital Management LLC Cuts Holdings in Kimco Realty Corp (NYSE:KIM)

Adelante Capital Management LLC reduced its holdings in Kimco Realty Corp (NYSE:KIM - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,122,694 shares of the real estate investment trust's stock after selling 33,217 shares during the period. Kimco Realty comprises about 2.2% of Adelante Capital Management LLC's holdings, making the stock its 10th largest holding. Adelante Capital Management LLC owned approximately 0.31% of Kimco Realty worth $49,289,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Kimco Realty during the 3rd quarter worth about $25,000. Brooklyn Investment Group bought a new position in Kimco Realty during the third quarter valued at approximately $37,000. Blue Trust Inc. grew 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 acquiring an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of 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 worth $42,000 after purchasing an additional 773 shares during the last quarter. Finally, Castleview Partners LLC acquired a new position in shares of Kimco Realty during the 3rd quarter worth $77,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

KIM stock traded down $0.21 during midday trading on Friday, hitting $25.57. The stock had a trading volume of 4,561,083 shares, compared to its average volume of 3,919,251. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 46.49, a P/E/G ratio of 3.35 and a beta of 1.50. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a 50-day simple moving average of $24.14 and a 200 day simple moving average of $22.00. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same quarter last year, the firm posted $0.40 earnings per share. Kimco Realty's revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty's previous quarterly dividend of $0.24. Kimco Realty's dividend payout ratio is 174.55%.

Analyst Upgrades and Downgrades

KIM has been the subject of a number of recent research reports. Mizuho cut shares of Kimco Realty from an "outperform" rating to a "neutral" rating and upped their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Evercore ISI lifted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Compass Point upped their price objective 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. Robert W. Baird raised their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group boosted their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.50.

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.