David Jamieson Sells 50,000 Shares of Kimco Realty Corp (NYSE:KIM) Stock

Kimco Realty Corp (NYSE:KIM) COO David Jamieson sold 50,000 shares of the firm’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 transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares in the company, valued at $7,389,473.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kimco Realty Stock Performance

Shares of KIM opened at $21.74 on Wednesday. The firm has a market cap of $14.66 billion, a P/E ratio of 41.02, a PEG ratio of 4.23 and a beta of 1.51. Kimco Realty Corp has a twelve month low of $16.34 and a twelve month high of $22.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. The firm’s 50 day moving average price is $19.81 and its two-hundred day moving average price is $19.44.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.23). The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. On average, analysts forecast that Kimco Realty Corp will post 1.6 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s dividend payout ratio is presently 181.13%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KIM shares. JPMorgan Chase & Co. increased their price target on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mizuho cut their target price on Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Piper Sandler restated 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. Finally, Truist Financial lowered their price target on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.98.

Hedge Funds Weigh In On Kimco Realty

Large investors have recently bought and sold shares of the company. Hartford Investment Management Co. raised its holdings in shares of Kimco Realty by 6.4% in the fourth quarter. Hartford Investment Management Co. now owns 44,802 shares of the real estate investment trust’s stock valued at $955,000 after purchasing an additional 2,688 shares during the last quarter. Arizona State Retirement System increased its stake in Kimco Realty by 9.1% in the 4th quarter. Arizona State Retirement System now owns 184,575 shares of the real estate investment trust’s stock valued at $3,933,000 after buying an additional 15,455 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its stake in Kimco Realty by 6.6% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 371,420 shares of the real estate investment trust’s stock valued at $7,915,000 after buying an additional 22,982 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Kimco Realty during the 4th quarter worth about $2,143,000. Finally, JLP Asset Management LLC boosted its stake in shares of Kimco Realty by 9.1% during the 4th quarter. JLP Asset Management LLC now owns 55,400 shares of the real estate investment trust’s stock worth $1,181,000 after buying an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

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.