Sumitomo Mitsui Trust Group Inc. Sells 102,133 Shares of Kimco Realty Corporation $KIM

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Kimco Realty Corporation (NYSE:KIM) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,874,671 shares of the real estate investment trust’s stock after selling 102,133 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kimco Realty were worth $86,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of KIM. Raiffeisen Bank International AG raised its holdings in shares of Kimco Realty by 9,783.7% during the second quarter. Raiffeisen Bank International AG now owns 47,936 shares of the real estate investment trust’s stock worth $1,238,000 after acquiring an additional 47,451 shares during the period. CX Institutional boosted its stake in Kimco Realty by 757.8% in the 3rd quarter. CX Institutional now owns 61,535 shares of the real estate investment trust’s stock worth $1,367,000 after purchasing an additional 54,361 shares during the period. Nykredit A S acquired a new position in Kimco Realty in the 2nd quarter worth $4,380,000. Cetera Investment Advisers boosted its stake in Kimco Realty by 144.4% in the 1st quarter. Cetera Investment Advisers now owns 197,693 shares of the real estate investment trust’s stock worth $4,442,000 after purchasing an additional 116,811 shares during the period. Finally, Jupiter Topco LLC bought a new position in Kimco Realty during the 2nd quarter worth about $1,787,000. 89.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on KIM. Morgan Stanley lifted their price target on Kimco Realty from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 29th. Barclays reduced their price objective on Kimco Realty from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, September 28th. Wells Fargo & Company decreased their price objective on Kimco Realty from $26.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, October 23rd. Mizuho dropped their target price on Kimco Realty from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 24th. Finally, Piper Sandler boosted their target price on Kimco Realty from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.88.

Kimco Realty Stock Up 2.3%

KIM stock opened at $25.09 on Tuesday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average price of $23.08 and a two-hundred day moving average price of $23.53. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 2.67 and a beta of 0.94. Kimco Realty Corporation has a twelve month low of $19.76 and a twelve month high of $26.65.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Kimco Realty had a return on equity of 5.76% and a net margin of 27.76%. The firm had revenue of $546.15 million for the quarter, compared to analyst estimates of $549.06 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Kimco Realty Corporation will post 1.85 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, December 4th. Kimco Realty’s payout ratio is presently 104.67%.

Kimco Realty Profile

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company’s portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.