1832 Asset Management L.P. Sells 865,200 Shares of Kimco Realty Corp (NYSE:KIM)

1832 Asset Management L.P. trimmed its position in Kimco Realty Corp (NYSE:KIM) by 60.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,156 shares of the real estate investment trust’s stock after selling 865,200 shares during the quarter. 1832 Asset Management L.P. owned 0.08% of Kimco Realty worth $11,017,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KIM. Thrivent Financial for Lutherans grew its stake in shares of Kimco Realty by 0.6% in the second quarter. Thrivent Financial for Lutherans now owns 252,969 shares of the real estate investment trust’s stock valued at $4,923,000 after acquiring an additional 1,629 shares in the last quarter. Sei Investments Co. boosted its holdings in Kimco Realty by 71.5% in the 2nd quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock valued at $54,345,000 after purchasing an additional 1,164,029 shares during the period. Pacer Advisors Inc. grew its position in shares of Kimco Realty by 4.9% during the 2nd quarter. Pacer Advisors Inc. now owns 44,384 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 2,089 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Kimco Realty by 11.7% during the second quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock worth $221,740,000 after purchasing an additional 1,193,600 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Kimco Realty by 378.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 3,144 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

KIM has been the subject of a number of analyst reports. Robert W. Baird boosted their price target on Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Piper Sandler reissued an “overweight” rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Truist Financial raised their price objective on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Friday, August 16th. Finally, Argus raised shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.55.

Kimco Realty Price Performance

KIM stock opened at $23.63 on Tuesday. The company has a market capitalization of $15.93 billion, a P/E ratio of 44.58, a PEG ratio of 4.01 and a beta of 1.51. The company has a fifty day moving average price of $22.46 and a 200-day moving average price of $20.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. Kimco Realty Corp has a 52-week low of $16.34 and a 52-week 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 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.23). The company had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. As a group, equities analysts expect that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.06%. The ex-dividend date was Thursday, September 5th. Kimco Realty’s payout ratio is presently 181.13%.

Insider Buying and Selling at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following the transaction, the chief operating officer now owns 337,111 shares in the company, valued at approximately $7,389,473.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

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.