Wasatch Advisors LP Trims Holdings in Kimco Realty Corp (NYSE:KIM)

Wasatch Advisors LP reduced its position in Kimco Realty Corp (NYSE:KIM - Free Report) by 33.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,575 shares of the real estate investment trust's stock after selling 59,780 shares during the quarter. Wasatch Advisors LP's holdings in Kimco Realty were worth $2,707,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Kimco Realty by 2.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust's stock valued at $73,195,000 after purchasing an additional 103,861 shares during the last quarter. Victory Capital Management Inc. grew its position in Kimco Realty by 48.8% in the 3rd quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust's stock valued at $19,422,000 after buying an additional 274,295 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Kimco Realty by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust's stock valued at $220,131,000 after buying an additional 405,685 shares during the period. Sei Investments Co. increased its stake in Kimco Realty by 71.5% in the 2nd quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust's stock valued at $54,345,000 after buying an additional 1,164,029 shares during the period. Finally, Swedbank AB raised its position in Kimco Realty by 5.3% during the 3rd quarter. Swedbank AB now owns 555,094 shares of the real estate investment trust's stock worth $12,889,000 after buying an additional 28,109 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KIM. Argus upgraded shares of Kimco Realty to a "strong-buy" rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their target price on Kimco Realty from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 28th. Evercore ISI raised their price target on Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Truist Financial upped their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. Finally, Mizuho cut Kimco Realty from an "outperform" rating to a "neutral" rating and increased their price objective for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.

Kimco Realty Price Performance

Kimco Realty stock traded down $0.35 during mid-day trading on Monday, hitting $25.22. 3,122,682 shares of the company were exchanged, compared to its average volume of 4,555,481. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. Kimco Realty Corp has a 12-month low of $17.57 and a 12-month high of $25.83. The business's 50 day simple moving average is $24.17 and its two-hundred day simple moving average is $22.06. The company has a market capitalization of $17.00 billion, a P/E ratio of 45.85, a PEG ratio of 3.35 and a beta of 1.50.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). The firm had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. Analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.97%. This is a boost from Kimco Realty's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty's dividend payout ratio is 181.82%.

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.