Massachusetts Financial Services Co. MA Sells 408,731 Shares of Kimco Realty Corp (NYSE:KIM)

Massachusetts Financial Services Co. MA cut its position in Kimco Realty Corp (NYSE:KIM - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,534,915 shares of the real estate investment trust's stock after selling 408,731 shares during the period. Massachusetts Financial Services Co. MA owned 1.12% of Kimco Realty worth $174,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC grew its stake in Kimco Realty by 1.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust's stock valued at $816,000 after acquiring an additional 522 shares during the period. CWM LLC grew its position in Kimco Realty by 4.7% in the 3rd quarter. CWM LLC now owns 13,323 shares of the real estate investment trust's stock valued at $309,000 after purchasing an additional 595 shares during the period. Cascade Investment Advisors Inc. increased its stake in Kimco Realty by 1.1% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust's stock valued at $1,110,000 after purchasing an additional 640 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Kimco Realty by 5.0% during the second quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust's stock worth $273,000 after buying an additional 663 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Kimco Realty by 2.0% in the second quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust's stock valued at $724,000 after buying an additional 746 shares in the last quarter. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Performance

Shares of KIM stock traded up $0.06 on Friday, hitting $25.37. 2,903,330 shares of the stock were exchanged, compared to its average volume of 4,222,677. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.46. The firm's 50 day moving average is $23.93 and its two-hundred day moving average is $21.75. The firm has a market capitalization of $17.10 billion, a PE ratio of 46.13, a P/E/G ratio of 3.32 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.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $502.78 million. During the same period last year, the firm earned $0.40 EPS. The business's revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts expect that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from Kimco Realty's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.94%. Kimco Realty's payout ratio is presently 174.55%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KIM. JPMorgan Chase & Co. upped their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Truist Financial lifted their target price on Kimco Realty from $22.00 to $24.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Argus raised Kimco Realty to a "strong-buy" rating in a research report on Friday, September 6th. Raymond James upgraded shares of Kimco Realty from a "market perform" rating to a "strong-buy" rating and set a $25.00 target price for the company in a research note on Friday, August 16th. Finally, UBS Group boosted their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.14.

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.