Swedbank AB Sells 42,804 Shares of Kimco Realty Corp (NYSE:KIM)

Swedbank AB trimmed its stake in shares of Kimco Realty Corp (NYSE:KIM - Free Report) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 526,985 shares of the real estate investment trust's stock after selling 42,804 shares during the period. Swedbank AB owned about 0.08% of Kimco Realty worth $10,255,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Kimco Realty during the fourth quarter worth $27,000. Headlands Technologies LLC acquired a new stake in Kimco Realty in the 4th quarter valued at about $27,000. Principal Securities Inc. acquired a new stake in Kimco Realty in the 4th quarter valued at about $29,000. Criterion Capital Advisors LLC acquired a new position in Kimco Realty during the fourth quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC raised its position in Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 773 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company's stock.

Insider Activity

In related news, COO David Jamieson sold 50,000 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares of the company's stock, valued at approximately $7,389,473.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company's stock.

Kimco Realty Trading Up 0.1 %

Shares of KIM stock traded up $0.02 during trading hours on Friday, hitting $22.29. 3,074,133 shares of the company were exchanged, compared to its average volume of 4,816,335. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $22.83. The firm has a fifty day moving average of $20.34 and a 200 day moving average of $19.54. The firm has a market cap of $15.03 billion, a PE ratio of 42.06, a PEG ratio of 4.23 and a beta of 1.51. The company has a quick ratio of 1.86, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty's revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. Analysts expect that Kimco Realty Corp will post 1.6 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.31%. Kimco Realty's dividend payout ratio is currently 181.13%.

Wall Street Analysts Forecast Growth

KIM has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Truist Financial cut their price target on Kimco Realty from $23.00 to $22.00 and set a "hold" rating for the company in a report on Monday, May 20th. Piper Sandler reaffirmed an "overweight" rating and set a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Raymond James raised 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. Finally, Robert W. Baird raised their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.48.

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.