Private Advisor Group LLC Sells 1,734 Shares of Kimco Realty Corp (NYSE:KIM)

Private Advisor Group LLC cut its holdings in Kimco Realty Corp (NYSE:KIM) by 16.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,865 shares of the real estate investment trust’s stock after selling 1,734 shares during the quarter. Private Advisor Group LLC’s holdings in Kimco Realty were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in Kimco Realty by 10.2% in the third quarter. Signaturefd LLC now owns 8,441 shares of the real estate investment trust’s stock worth $196,000 after acquiring an additional 783 shares during the period. Castleview Partners LLC purchased a new stake in Kimco Realty in the third quarter worth about $77,000. Schaper Benz & Wise Investment Counsel Inc. WI lifted its stake in Kimco Realty by 0.5% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 214,726 shares of the real estate investment trust’s stock worth $4,986,000 after acquiring an additional 1,027 shares during the period. Blue Trust Inc. lifted its stake in Kimco Realty by 199.1% in the third quarter. Blue Trust Inc. now owns 6,317 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 4,205 shares during the period. Finally, Generate Investment Management Ltd lifted its stake in Kimco Realty by 84.5% in the third quarter. Generate Investment Management Ltd now owns 564,244 shares of the real estate investment trust’s stock worth $13,102,000 after acquiring an additional 258,424 shares during the period. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

KIM opened at $24.93 on Friday. Kimco Realty Corp has a 12-month low of $17.51 and a 12-month high of $25.07. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $16.80 billion, a PE ratio of 45.33, a P/E/G ratio of 3.21 and a beta of 1.50. The firm has a 50 day moving average of $23.61 and a two-hundred day moving average of $21.31.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The business had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. On average, analysts anticipate that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.01%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s payout ratio is 174.55%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KIM shares. Truist Financial upped their price objective 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. Compass Point raised their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Evercore ISI raised their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and an average price target of $23.95.

Kimco Realty Company 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.