tru Independence LLC Decreases Stake in Kimco Realty Corp (NYSE:KIM)

tru Independence LLC trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 277,027 shares of the real estate investment trust’s stock after selling 3,585 shares during the quarter. Kimco Realty accounts for about 1.6% of tru Independence LLC’s investment portfolio, making the stock its 27th biggest position. tru Independence LLC’s holdings in Kimco Realty were worth $5,391,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Kimco Realty in the 4th quarter valued at approximately $2,143,000. Victory Capital Management Inc. raised its holdings in Kimco Realty by 19.5% in the fourth quarter. Victory Capital Management Inc. now owns 127,779 shares of the real estate investment trust’s stock valued at $2,723,000 after acquiring an additional 20,828 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Kimco Realty by 29.0% during the 4th quarter. Natixis Advisors L.P. now owns 211,155 shares of the real estate investment trust’s stock valued at $4,499,000 after acquiring an additional 47,517 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Kimco Realty by 19.4% during the 4th quarter. Apollon Wealth Management LLC now owns 18,641 shares of the real estate investment trust’s stock worth $397,000 after acquiring an additional 3,031 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Kimco Realty in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Scotiabank increased their target price on Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Wells Fargo & Company boosted their price target on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research report on Friday, August 16th. Finally, Evercore ISI lifted their price objective on shares of Kimco Realty from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kimco Realty presently has an average rating of “Hold” and a consensus target price of $23.21.

Kimco Realty Stock Down 0.5 %

KIM stock opened at $22.99 on Friday. The stock has a market cap of $15.50 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 3.96 and a beta of 1.51. The firm’s 50-day simple moving average is $21.61 and its 200 day simple moving average is $19.86. Kimco Realty Corp has a fifty-two week low of $16.34 and a fifty-two week high of $23.53. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results 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 firm had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, sell-side analysts predict that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is 181.13%.

Insider Activity

In related news, COO David Jamieson sold 50,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $7,389,473.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Kimco Realty 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.