Kimco Realty Corp (NYSE:KIM) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its stake in Kimco Realty Corp (NYSE:KIM) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,229 shares of the real estate investment trust’s stock after selling 1,039 shares during the period. HighTower Advisors LLC’s holdings in Kimco Realty were worth $3,884,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kimco Realty by 2.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock worth $73,195,000 after purchasing an additional 103,861 shares during the period. Victory Capital Management Inc. boosted its stake in Kimco Realty by 48.8% during the 3rd quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock worth $19,422,000 after purchasing an additional 274,295 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Kimco Realty by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock worth $220,131,000 after purchasing an additional 405,685 shares during the period. Sei Investments Co. boosted its stake in Kimco Realty by 71.5% during the 2nd quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock worth $54,345,000 after purchasing an additional 1,164,029 shares during the period. Finally, Swedbank AB boosted its stake 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 purchasing an additional 28,109 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. The Goldman Sachs Group raised their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Robert W. Baird raised their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Mizuho raised their target price on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Truist Financial raised their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Nine investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.70.

Kimco Realty Price Performance

Kimco Realty stock opened at $24.44 on Thursday. Kimco Realty Corp has a 12-month low of $17.57 and a 12-month high of $25.83. The stock has a market capitalization of $16.47 billion, a P/E ratio of 44.44, a P/E/G ratio of 3.30 and a beta of 1.50. The firm’s 50-day moving average is $24.43 and its two-hundred day moving average is $22.34. 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 (NYSE:KIM) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same period in the prior year, the business posted $0.40 earnings per share. Kimco Realty’s revenue was up 13.8% on a year-over-year basis. Equities analysts predict that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.09%. Kimco Realty’s dividend payout ratio (DPR) is currently 181.82%.

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.