New York State Teachers Retirement System Lowers Stake in Kimco Realty Corp (NYSE:KIM)

New York State Teachers Retirement System reduced its position in shares of Kimco Realty Corp (NYSE:KIM - Free Report) by 8.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 718,854 shares of the real estate investment trust's stock after selling 66,858 shares during the period. New York State Teachers Retirement System owned about 0.11% of Kimco Realty worth $13,989,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Kimco Realty during the fourth quarter worth approximately $27,000. Principal Securities Inc. acquired a new stake in shares of Kimco Realty in the fourth quarter valued at $29,000. Blue Trust Inc. raised its holdings in shares of 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 valued at $41,000 after buying an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in 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 buying an additional 773 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Kimco Realty during the 1st quarter worth about $70,000. 89.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. 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, August 16th. Mizuho downgraded 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. Truist Financial lowered their target price on Kimco Realty from $23.00 to $22.00 and set a "hold" rating for the company in a research note on Monday, May 20th. Piper Sandler reaffirmed an "overweight" rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kimco Realty currently has a consensus rating of "Moderate Buy" and an average target price of $22.73.

Kimco Realty Trading Up 1.8 %

KIM stock traded up $0.41 during midday trading on Friday, hitting $23.23. 4,042,668 shares of the company's stock were exchanged, compared to its average volume of 4,780,708. Kimco Realty Corp has a one year low of $16.34 and a one year high of $23.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. The company has a market cap of $15.66 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51. The stock's fifty 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 earnings per share 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 business had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. During the same quarter last year, the firm earned $0.39 EPS. The company's revenue for the quarter was up 13.0% on a year-over-year basis. Research analysts predict that Kimco Realty Corp will post 1.6 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty's dividend payout ratio (DPR) is presently 181.13%.

Insider Buying and Selling

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 value of $1,096,000.00. Following the completion of the transaction, 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 document filed with the SEC, which is available 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.