Truist Financial Corp Trims Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Truist Financial Corp reduced its stake in Kimco Realty Corp (NYSE:KIM) by 12.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,143 shares of the real estate investment trust’s stock after selling 1,414 shares during the period. Truist Financial Corp’s holdings in Kimco Realty were worth $238,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KIM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Kimco Realty by 842.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock valued at $145,420,000 after buying an additional 5,598,091 shares during the period. FMR LLC increased its stake in Kimco Realty by 6.1% during the third quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after purchasing an additional 1,283,352 shares during the period. State Street Corp increased its stake in Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after purchasing an additional 882,047 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Kimco Realty during the third quarter worth about $17,636,000. Finally, KBC Group NV increased its stake in Kimco Realty by 408.7% during the third quarter. KBC Group NV now owns 669,923 shares of the real estate investment trust’s stock worth $15,556,000 after purchasing an additional 538,232 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank cut their price target on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. UBS Group boosted their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. 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 research note on Tuesday, February 25th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and cut their price target for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Finally, Evercore ISI lowered their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Ten equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Kimco Realty Stock Performance

Shares of KIM opened at $21.46 on Friday. The stock has a 50 day moving average price of $22.27 and a 200 day moving average price of $23.36. 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 company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 38.31, a price-to-earnings-growth ratio of 2.78 and a beta of 1.50. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Research analysts predict that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Friday, March 7th. Kimco Realty’s payout ratio is currently 178.57%.

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.