First Citizens Bank & Trust Co. Sells 12,674 Shares of Kimco Realty Corp (NYSE:KIM)

First Citizens Bank & Trust Co. lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,311 shares of the real estate investment trust’s stock after selling 12,674 shares during the period. First Citizens Bank & Trust Co.’s holdings in Kimco Realty were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Kimco Realty by 842.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock worth $145,420,000 after purchasing an additional 5,598,091 shares during the last quarter. FMR LLC increased its position in Kimco Realty by 6.1% in the third quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after purchasing an additional 1,283,352 shares during the last quarter. State Street Corp increased its position in Kimco Realty by 2.0% in the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after purchasing an additional 882,047 shares during the last quarter. Millennium Management LLC increased its position in Kimco Realty by 146.6% in the second quarter. Millennium Management LLC now owns 1,477,297 shares of the real estate investment trust’s stock worth $28,748,000 after purchasing an additional 878,217 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Kimco Realty in the third quarter worth $17,636,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Up 1.1 %

Shares of KIM opened at $22.93 on Monday. The firm has a market capitalization of $15.46 billion, a P/E ratio of 41.69, a P/E/G ratio of 2.87 and a beta of 1.51. Kimco Realty Corp has a 12-month low of $17.57 and a 12-month high of $25.83. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average price of $23.79 and a 200-day moving average price of $23.26.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). The firm had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Equities research 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 disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.25 dividend. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, December 5th. Kimco Realty’s payout ratio is presently 181.82%.

Analyst Ratings Changes

KIM has been the topic of several research reports. JPMorgan Chase & Co. cut shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price target on the stock. in a research report on Friday, December 20th. Robert W. Baird lifted their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Evercore ISI dropped their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Scotiabank lifted their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Eleven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.84.

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.