Bank of New York Mellon Corp Acquires 58,558 Shares of Kimco Realty Corp (NYSE:KIM)

Bank of New York Mellon Corp grew its position in Kimco Realty Corp (NYSE:KIM - Free Report) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,091,159 shares of the real estate investment trust's stock after purchasing an additional 58,558 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.90% of Kimco Realty worth $118,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Kimco Realty in the 4th quarter valued at $27,000. Principal Securities Inc. purchased a new position in shares of Kimco Realty in the 4th quarter valued at $29,000. Blue Trust Inc. grew its position in shares of Kimco Realty by 613.5% in the 2nd 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 grew its position in shares of Kimco Realty by 52.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 773 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Kimco Realty in the 1st quarter valued at $70,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

Shares of Kimco Realty stock remained flat at $23.16 during trading hours on Wednesday. The company's stock had a trading volume of 2,929,115 shares, compared to its average volume of 4,749,228. Kimco Realty Corp has a one year low of $16.34 and a one year high of $23.53. The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51. The company's 50-day moving average is $21.02 and its two-hundred day moving average is $19.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.86.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The business had revenue of $500.20 million for the quarter, compared to analysts' expectations of $500.87 million. During the same period in the prior year, the company earned $0.39 EPS. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts anticipate that Kimco Realty Corp will post 1.6 earnings per share 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 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 4.15%. Kimco Realty's dividend payout ratio is presently 181.13%.

Insider Transactions at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was 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 owns 337,111 shares in the company, valued at approximately $7,389,473.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.20% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on KIM. JPMorgan Chase & Co. increased their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price target on Kimco Realty from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Wells Fargo & Company increased their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday. Mizuho cut shares of Kimco Realty from an "outperform" rating to a "neutral" rating and lifted their target price for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Finally, Evercore ISI upped their price target on shares of Kimco Realty from $21.00 to $22.00 and gave the company an "in-line" rating in a report on Wednesday. Nine 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $23.13.

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.