Truist Financial Corp Acquires 746 Shares of Kimco Realty Corp (NYSE:KIM)

Truist Financial Corp grew its holdings in Kimco Realty Corp (NYSE:KIM) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,223 shares of the real estate investment trust’s stock after purchasing an additional 746 shares during the period. Truist Financial Corp’s holdings in Kimco Realty were worth $724,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after buying an additional 7,931,013 shares during the last quarter. APG Asset Management US Inc. raised its holdings in shares of Kimco Realty by 1.6% during the second quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock valued at $288,155,000 after purchasing an additional 240,000 shares during the last quarter. Centersquare Investment Management LLC lifted its position in Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock valued at $269,531,000 after purchasing an additional 6,282,891 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Kimco Realty by 11.7% in 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 last quarter. Finally, Dimensional Fund Advisors LP grew its position in Kimco Realty by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,129,551 shares of the real estate investment trust’s stock worth $197,116,000 after purchasing an additional 94,811 shares during the period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on KIM. Piper Sandler restated an “overweight” rating and issued a $29.00 price target (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Mizuho cut Kimco Realty from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Robert W. Baird upped their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Truist Financial raised their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Compass Point upped their target price 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. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus target price of $23.55.

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 stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the transaction, the chief operating officer now owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Kimco Realty Stock Performance

NYSE:KIM opened at $23.41 on Tuesday. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $24.25. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $15.78 billion, a P/E ratio of 44.17, a P/E/G ratio of 3.95 and a beta of 1.50. The stock has a 50-day moving average price of $22.96 and a 200 day moving average price of $20.58.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. During the same period in the previous year, the company posted $0.39 earnings per share. Kimco Realty’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts forecast 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 given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.10%. Kimco Realty’s dividend payout ratio is currently 181.13%.

Kimco Realty 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.