Sei Investments Co. Sells 789,272 Shares of Kimco Realty Corp (NYSE:KIM)

Sei Investments Co. lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 19.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,173,280 shares of the real estate investment trust’s stock after selling 789,272 shares during the quarter. Sei Investments Co. owned 0.51% of Kimco Realty worth $61,974,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of KIM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Kimco Realty by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 82,511 shares of the real estate investment trust’s stock valued at $2,038,000 after acquiring an additional 5,138 shares during the last quarter. APG Asset Management N.V. bought a new position in Kimco Realty in the 1st quarter valued at $557,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Kimco Realty in the 1st quarter valued at $2,351,000. National Pension Service bought a new position in Kimco Realty in the 1st quarter valued at $22,589,000. Finally, Vanguard Group Inc. grew its position in Kimco Realty by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 100,537,581 shares of the real estate investment trust’s stock valued at $2,483,278,000 after acquiring an additional 3,081,151 shares during the last quarter. Institutional investors own 90.42% of the company’s stock.

Kimco Realty Price Performance

Shares of NYSE KIM remained flat at $18.94 during mid-day trading on Friday. The company had a trading volume of 1,777,535 shares, compared to its average volume of 4,416,811. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $11.74 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.64 and a beta of 1.45. Kimco Realty Corp has a 1 year low of $17.34 and a 1 year high of $23.27. The business has a 50-day simple moving average of $19.85 and a 200-day simple moving average of $19.37.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, September 7th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Wednesday, September 6th. Kimco Realty’s dividend payout ratio (DPR) is presently 150.82%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KIM. Wells Fargo & Company began coverage on Kimco Realty in a research report on Tuesday, May 23rd. They issued an “underweight” rating and a $19.00 price objective on the stock. Truist Financial lowered their target price on Kimco Realty from $24.00 to $22.00 in a report on Monday, May 15th. Stifel Nicolaus lowered their target price on Kimco Realty from $23.75 to $23.25 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group cut Kimco Realty from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Wednesday, August 16th. Finally, Argus lowered their target price on Kimco Realty from $27.00 to $22.00 in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.25.

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.