Summit Global Investments Sells 34,900 Shares of Kimco Realty Corp (NYSE:KIM)

Summit Global Investments decreased its holdings in shares of Kimco Realty Corp (NYSE:KIM - Free Report) by 44.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,023 shares of the real estate investment trust's stock after selling 34,900 shares during the period. Summit Global Investments' holdings in Kimco Realty were worth $857,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in KIM. Headlands Technologies LLC acquired a new position in Kimco Realty in the fourth quarter valued at about $27,000. Principal Securities Inc. acquired a new stake in shares of Kimco Realty in the 4th quarter valued at approximately $29,000. Criterion Capital Advisors LLC bought a new position in Kimco Realty during the 4th quarter worth approximately $33,000. Blue Trust Inc. grew its holdings in Kimco Realty by 613.5% during the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 1,816 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Kimco Realty by 52.6% in the first 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 in the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Insider Activity

In other news, COO David Jamieson sold 50,000 shares of the company's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KIM shares. Piper Sandler reissued an "overweight" rating and issued a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Truist Financial cut their price objective on Kimco Realty from $23.00 to $22.00 and set a "hold" rating on the stock in a report on Monday, May 20th. Raymond James raised 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, Mizuho lowered shares of Kimco Realty from an "outperform" rating to a "neutral" rating and lifted their price target for the company from $20.00 to $23.00 in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.73.

Kimco Realty Stock Up 0.9 %

Shares of Kimco Realty stock traded up $0.19 during trading hours on Tuesday, reaching $22.49. 2,871,493 shares of the company's stock were exchanged, compared to its average volume of 4,789,702. The stock has a market cap of $15.16 billion, a P/E ratio of 42.43, a P/E/G ratio of 4.23 and a beta of 1.51. The company has a 50 day moving average of $20.50 and a two-hundred day moving average of $19.56. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. Kimco Realty Corp has a fifty-two week low of $16.34 and a fifty-two week high of $22.83.

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

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty's dividend payout ratio is currently 181.13%.

Kimco Realty Company 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.

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