Old Port Advisors Sells 4,359 Shares of Kimco Realty Corp (NYSE:KIM)

Old Port Advisors lowered its position in Kimco Realty Corp (NYSE:KIM) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,993 shares of the real estate investment trust’s stock after selling 4,359 shares during the period. Old Port Advisors’ holdings in Kimco Realty were worth $2,786,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after purchasing an additional 7,931,013 shares during the period. APG Asset Management US Inc. raised its stake in shares of Kimco Realty by 1.6% during the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock worth $288,155,000 after purchasing an additional 240,000 shares during the period. Centersquare Investment Management LLC grew its position in Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock valued at $269,531,000 after buying an additional 6,282,891 shares during the period. Canada Pension Plan Investment Board increased its holdings in Kimco Realty by 11.7% during the second quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock worth $221,740,000 after buying an additional 1,193,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Kimco Realty by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,129,551 shares of the real estate investment trust’s stock worth $197,116,000 after buying an additional 94,811 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Performance

NYSE KIM opened at $23.89 on Tuesday. The company’s 50 day simple moving average is $23.36 and its two-hundred day simple moving average is $20.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73. Kimco Realty Corp has a 1 year low of $16.86 and a 1 year high of $24.67. The stock has a market capitalization of $16.10 billion, a PE ratio of 45.07, a P/E/G ratio of 4.10 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Analysts predict that Kimco Realty Corp will post 1.62 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is 181.13%.

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 that occurred 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 completion of the transaction, the chief operating officer now owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $29.00 target price (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Wells Fargo & Company increased their price objective on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Compass Point upped their price target on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Friday, August 16th. Finally, Argus upgraded Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.55.

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.