Sei Investments Co. Grows Position in Kimco Realty Corp (NYSE:KIM)

Sei Investments Co. raised its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 71.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,792,649 shares of the real estate investment trust’s stock after purchasing an additional 1,164,029 shares during the period. Sei Investments Co. owned 0.41% of Kimco Realty worth $54,345,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. increased its holdings in Kimco Realty by 4.9% during the second quarter. Pacer Advisors Inc. now owns 44,384 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 2,089 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after acquiring an additional 1,193,600 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Kimco Realty by 378.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 3,144 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Kimco Realty during the 2nd quarter worth $237,000. Finally, Elo Mutual Pension Insurance Co boosted its position in Kimco Realty by 8.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 66,838 shares of the real estate investment trust’s stock valued at $1,301,000 after purchasing an additional 5,247 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

KIM has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. The Goldman Sachs Group increased their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Evercore ISI lifted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their price target on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.55.

Kimco Realty Stock Performance

NYSE KIM opened at $23.24 on Monday. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 4.01 and a beta of 1.51. The stock has a 50-day moving average of $22.41 and a 200 day moving average of $20.15. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty Corp has a twelve month low of $16.34 and a twelve month high of $24.25.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million for the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. Sell-side analysts anticipate that Kimco Realty Corp will post 1.62 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Thursday, September 5th. Kimco Realty’s dividend payout ratio is presently 181.13%.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

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.