Allspring Global Investments Holdings LLC Reduces Stake in Kimco Realty Corp (NYSE:KIM)

Allspring Global Investments Holdings LLC reduced its stake in shares of Kimco Realty Corp (NYSE:KIM) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,545 shares of the real estate investment trust’s stock after selling 1,424 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kimco Realty were worth $679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in Kimco Realty during the third quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Kimco Realty in the third quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new stake in shares of Kimco Realty during the 3rd quarter worth $37,000. Quarry LP purchased a new position in shares of Kimco Realty in the 3rd quarter worth about $51,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Kimco Realty in the fourth quarter valued at approximately $77,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Stock Down 0.5 %

Shares of KIM opened at $21.52 on Monday. The firm has a market cap of $14.50 billion, a P/E ratio of 38.42, a price-to-earnings-growth ratio of 2.78 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83. The firm’s 50-day simple moving average is $22.61 and its 200 day simple moving average is $23.39.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 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%. On average, analysts forecast that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Friday, March 7th. Kimco Realty’s payout ratio is 178.57%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KIM. Wells Fargo & Company dropped their target price on Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. UBS Group boosted their price target on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Scotiabank raised their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday, November 25th. Ten analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and a consensus price target of $24.83.

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.