Panagora Asset Management Inc. Sells 262,345 Shares of Kimco Realty Corp (NYSE:KIM)

Panagora Asset Management Inc. lowered its position in Kimco Realty Corp (NYSE:KIM - Free Report) by 51.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,317 shares of the real estate investment trust's stock after selling 262,345 shares during the quarter. Panagora Asset Management Inc.'s holdings in Kimco Realty were worth $4,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in Kimco Realty during the fourth quarter worth about $27,000. Principal Securities Inc. acquired a new position in shares of Kimco Realty in the fourth quarter valued at $29,000. Blue Trust Inc. lifted its position in 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 worth $41,000 after purchasing an additional 1,816 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 773 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Kimco Realty in the 1st quarter valued at $70,000. Institutional investors 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. 2.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KIM. Wells Fargo & Company upped their target price 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. Evercore ISI lifted their price objective on Kimco Realty from $21.00 to $22.00 and gave the company an "in-line" rating in a report on Wednesday. Scotiabank increased their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Monday. Raymond James raised 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. Finally, Truist Financial boosted their target price on Kimco Realty from $22.00 to $24.00 and gave the stock a "hold" rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $23.21.

Kimco Realty Stock Up 1.1 %

Shares of NYSE:KIM traded up $0.25 during mid-day trading on Friday, reaching $23.26. 2,856,539 shares of the stock were exchanged, compared to its average volume of 4,725,122. The stock's 50 day simple moving average is $21.19 and its 200-day simple moving average is $19.74. Kimco Realty Corp has a one year low of $16.34 and a one year high of $23.53. The company has a market cap of $15.68 billion, a P/E ratio of 43.89, a P/E/G 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 announced its 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 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 analyst estimates of $500.87 million. During the same quarter in the previous year, the company posted $0.39 EPS. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts predict that Kimco Realty Corp will post 1.6 EPS for the current year.

Kimco Realty Dividend Announcement

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

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.