Parallel Advisors LLC Decreases Stock Position in Kimco Realty Corp (NYSE:KIM)

Parallel Advisors LLC cut its position in Kimco Realty Corp (NYSE:KIM) by 46.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,151 shares of the real estate investment trust’s stock after selling 2,768 shares during the quarter. Parallel Advisors LLC’s holdings in Kimco Realty were worth $67,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of Kimco Realty in the fourth quarter valued at $26,000. Brown Brothers Harriman & Co. boosted its stake in shares of Kimco Realty by 78.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 575 shares during the period. Headlands Technologies LLC purchased a new position in shares of Kimco Realty in the fourth quarter valued at $45,000. Catalyst Capital Advisors LLC boosted its stake in shares of Kimco Realty by 102.9% in the fourth quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,104 shares during the period. Finally, CoreFirst Bank & Trust purchased a new position in shares of Kimco Realty in the fourth quarter valued at $76,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $21.00 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $20.59 and its two-hundred day moving average price is $21.97. Kimco Realty Corp has a 52-week low of $17.93 and a 52-week high of $25.83. The stock has a market capitalization of $14.20 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.78 and a beta of 1.27.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. The business had revenue of $536.62 million for the quarter, compared to analysts’ expectations of $520.68 million. During the same period in the prior year, the firm earned $0.39 EPS. The business’s quarterly revenue was up 965.3% on a year-over-year basis. As a group, sell-side analysts forecast that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, June 6th. Kimco Realty’s dividend payout ratio (DPR) is 129.87%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KIM shares. Wells Fargo & Company decreased their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Piper Sandler decreased their target price on shares of Kimco Realty from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Mizuho cut their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Scotiabank reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of Kimco Realty from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.68.

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.