Wasatch Advisors LP Decreases Holdings in Kimco Realty Corp (NYSE:KIM)

Wasatch Advisors LP trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 33.9% in the third quarter, Holdings Channel reports. The firm owned 116,575 shares of the real estate investment trust’s stock after selling 59,780 shares during the period. Wasatch Advisors LP’s holdings in Kimco Realty were worth $2,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its position in Kimco Realty by 6.1% in the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after buying an additional 1,283,352 shares during the last quarter. APG Asset Management US Inc. boosted its position in Kimco Realty by 1.6% in the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock valued at $288,155,000 after buying an additional 240,000 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after buying an additional 1,193,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Kimco Realty by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,129,551 shares of the real estate investment trust’s stock valued at $197,116,000 after buying an additional 94,811 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Kimco Realty by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock valued at $220,131,000 after buying an additional 405,685 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KIM shares. The Goldman Sachs Group upped their price objective on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research note on Friday, August 16th. Robert W. Baird upped their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Evercore ISI upped their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Scotiabank upped their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday, November 25th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Kimco Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Kimco Realty Price Performance

KIM opened at $25.57 on Monday. The firm has a market cap of $17.24 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 3.35 and a beta of 1.50. Kimco Realty Corp has a fifty-two week low of $17.57 and a fifty-two week high of $25.83. The company’s 50-day moving average price is $24.14 and its 200 day moving average price is $22.02. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same quarter in the previous year, the business posted $0.40 EPS. Kimco Realty’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts expect that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.91%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is presently 174.55%.

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.