Kimco Realty Corp (NYSE:KIM) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its position in shares of Kimco Realty Corp (NYSE:KIM - Free Report) by 72.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,804 shares of the real estate investment trust's stock after selling 106,276 shares during the quarter. Fifth Third Bancorp's holdings in Kimco Realty were worth $775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Analyst IMS Investment Management Services Ltd. boosted its holdings in Kimco Realty by 157.1% in the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 167,422 shares of the real estate investment trust's stock worth $3,568,000 after purchasing an additional 102,300 shares during the period. Duff & Phelps Investment Management Co. grew its holdings in Kimco Realty by 2.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 342,244 shares of the real estate investment trust's stock valued at $7,293,000 after purchasing an additional 9,500 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Kimco Realty by 71.0% during the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust's stock worth $3,531,000 after purchasing an additional 74,729 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust's stock valued at $2,162,347,000 after purchasing an additional 7,931,013 shares during the period. Finally, Evoke Wealth LLC bought a new stake in shares of Kimco Realty during the fourth quarter valued at approximately $4,181,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on KIM. Piper Sandler restated an "overweight" rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Mizuho lowered shares of Kimco Realty from an "outperform" rating to a "neutral" rating and boosted their price objective for the stock from $20.00 to $23.00 in a research note on Monday. Robert W. Baird boosted their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Truist Financial lowered their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a "hold" rating for the company in a research report on Monday, May 20th. Finally, Raymond James upgraded shares of Kimco Realty from a "market perform" rating to a "strong-buy" rating and set a $25.00 price target for the company in a report on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.73.

Kimco Realty Stock Performance

NYSE KIM traded up $0.41 on Friday, hitting $23.23. 4,042,119 shares of the company traded hands, compared to its average volume of 4,780,708. Kimco Realty Corp has a 52-week low of $16.34 and a 52-week high of $23.31. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 4.23 and a beta of 1.51. The business's 50 day moving average price is $20.76 and its 200-day moving average price is $19.63.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.39 EPS. Equities analysts expect that Kimco Realty Corp will post 1.6 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.13%. Kimco Realty's dividend payout ratio is currently 181.13%.

Insider Buying and Selling

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

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.