Folger Nolan Fleming Douglas Capital Management Inc. Cuts Holdings in Kimco Realty Corporation $KIM

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,559 shares of the real estate investment trust’s stock after selling 1,591 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Kimco Realty were worth $1,210,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new stake in Kimco Realty during the 2nd quarter valued at $27,000. AlphaQuest LLC purchased a new stake in Kimco Realty during the 1st quarter valued at $29,000. Golden State Wealth Management LLC boosted its stake in Kimco Realty by 177.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 911 shares during the last quarter. Keystone Global Partners LLC purchased a new stake in Kimco Realty during the 1st quarter valued at $30,000. Finally, WASHINGTON TRUST Co purchased a new stake in Kimco Realty during the 1st quarter valued at $34,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on KIM. Piper Sandler dropped their price target on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Evercore ISI raised their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 8th. LADENBURG THALM/SH SH began coverage on Kimco Realty in a research note on Tuesday, September 9th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Barclays raised their price target on Kimco Realty from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.92.

Insider Buying and Selling at Kimco Realty

In related news, Director Mary Hogan Preusse sold 23,100 shares of Kimco Realty stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the transaction, the director owned 40,260 shares in the company, valued at approximately $872,031.60. This trade represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by insiders.

Kimco Realty Price Performance

NYSE KIM opened at $20.78 on Friday. The company has a market capitalization of $14.07 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The business’s fifty day moving average is $21.78 and its 200 day moving average is $21.22. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $25.83.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.Kimco Realty’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Sell-side analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.25 per share. The ex-dividend date was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.8%. Kimco Realty’s dividend payout ratio (DPR) is presently 120.48%.

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.