Kentucky Retirement Systems Insurance Trust Fund Lowers Holdings in Kimco Realty Corp (NYSE:KIM)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Kimco Realty Corp (NYSE:KIM) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,508 shares of the real estate investment trust’s stock after selling 5,451 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kimco Realty were worth $340,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its stake in Kimco Realty by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 103,273 shares of the real estate investment trust’s stock valued at $2,420,000 after buying an additional 4,637 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Kimco Realty by 10.1% during the fourth quarter. Sanctuary Advisors LLC now owns 40,288 shares of the real estate investment trust’s stock valued at $914,000 after buying an additional 3,684 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in Kimco Realty by 102.9% during the fourth quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,104 shares during the last quarter. Principal Financial Group Inc. raised its stake in Kimco Realty by 23.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,389,023 shares of the real estate investment trust’s stock valued at $32,545,000 after buying an additional 259,426 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Kimco Realty by 1.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,235,249 shares of the real estate investment trust’s stock valued at $28,868,000 after buying an additional 12,705 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

KIM has been the subject of several recent analyst reports. Mizuho boosted their price target on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Robert W. Baird boosted their price target on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Jefferies Financial Group cut Kimco Realty from a “buy” rating to a “hold” rating and decreased their price target for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Evercore ISI decreased their price target on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Finally, JPMorgan Chase & Co. decreased their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday. Ten analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.83.

Kimco Realty Stock Performance

NYSE:KIM opened at $21.54 on Thursday. The stock has a 50-day simple moving average of $22.73 and a two-hundred day simple moving average of $23.38. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The firm has a market capitalization of $14.52 billion, a PE ratio of 38.47, a P/E/G ratio of 2.81 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Analysts forecast that Kimco Realty Corp will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Friday, March 7th. Kimco Realty’s dividend payout ratio is presently 178.57%.

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.