Kimco Realty Corp (NYSE:KIM) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its position in shares of Kimco Realty Corp (NYSE:KIM) by 51.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,317 shares of the real estate investment trust’s stock after selling 262,345 shares during the quarter. Panagora Asset Management Inc.’s holdings in Kimco Realty were worth $4,735,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kimco Realty by 11.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 477,432 shares of the real estate investment trust’s stock valued at $9,291,000 after purchasing an additional 47,483 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Kimco Realty by 5.0% in the second quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 663 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Kimco Realty by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 6,091,159 shares of the real estate investment trust’s stock worth $118,534,000 after buying an additional 58,558 shares in the last quarter. Retirement Systems of Alabama boosted its position in Kimco Realty by 2.1% during the second quarter. Retirement Systems of Alabama now owns 534,261 shares of the real estate investment trust’s stock worth $10,397,000 after acquiring an additional 10,750 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. acquired a new stake in Kimco Realty in the 2nd quarter valued at about $16,432,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Truist Financial upped their price target on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday. Mizuho downgraded 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 note on Monday, August 19th. Evercore ISI boosted their price target on shares of Kimco Realty from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.21.

Insider Buying and Selling

In other Kimco Realty 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 transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Kimco Realty Trading Up 1.1 %

Kimco Realty stock traded up $0.25 during midday trading on Friday, reaching $23.26. 2,856,539 shares of the stock traded hands, compared to its average volume of 4,724,978. The firm has a market cap of $15.68 billion, a PE ratio of 43.43, a price-to-earnings-growth ratio of 4.23 and a beta of 1.51. The company has a current ratio of 1.73, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $21.11 and a two-hundred day simple moving average of $19.72. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $23.53.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Research analysts expect that Kimco Realty Corp will post 1.6 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, September 5th. 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.