Douglas Lane & Associates LLC Decreases Position in Kimco Realty Corp (NYSE:KIM)

Douglas Lane & Associates LLC cut its position in Kimco Realty Corp (NYSE:KIM) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,397,855 shares of the real estate investment trust’s stock after selling 45,046 shares during the period. Douglas Lane & Associates LLC’s holdings in Kimco Realty were worth $32,458,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 773 shares during the last quarter. UMB Bank n.a. raised its holdings in Kimco Realty by 112.6% in the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 1,787 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Kimco Realty in the first quarter worth about $70,000. Finally, Mather Group LLC. purchased a new position in Kimco Realty in the first quarter worth about $82,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 337,111 shares in the company, valued at $7,389,473.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on KIM shares. 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 report on Wednesday, August 28th. The Goldman Sachs Group raised their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Compass Point increased their price target on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Robert W. Baird lifted their price objective on Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Nine 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 currently has a consensus rating of “Moderate Buy” and an average price target of $23.55.

Kimco Realty Price Performance

NYSE:KIM traded up $0.32 during trading hours on Friday, hitting $23.18. 2,946,092 shares of the stock traded hands, compared to its average volume of 4,631,522. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 43.74, a price-to-earnings-growth ratio of 3.95 and a beta of 1.50. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $24.25. The stock has a 50 day moving average price of $22.92 and a 200 day moving average price of $20.55. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last released its earnings results 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). 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 analysts’ expectations of $500.87 million. During the same quarter last year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts forecast that Kimco Realty Corp will post 1.62 EPS for the current fiscal 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 given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.14%. Kimco Realty’s dividend payout ratio is 181.13%.

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.