Kentucky Retirement Systems Insurance Trust Fund Sells 5,451 Shares of Kimco Realty Corp (NYSE:KIM)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Kimco Realty Corp (NYSE:KIM) by 27.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,508 shares of the real estate investment trust’s stock after selling 5,451 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kimco Realty were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of 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 acquiring an additional 882,047 shares during the period. FMR LLC boosted its stake in shares of 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 acquiring an additional 1,283,352 shares during the period. Geode Capital Management LLC boosted its stake in Kimco Realty by 0.3% during the third quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock valued at $398,468,000 after buying an additional 53,378 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Kimco Realty by 4.5% during 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Kimco Realty by 842.3% during the 3rd 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 valued at $145,420,000 after buying an additional 5,598,091 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Shares of KIM stock opened at $21.54 on Thursday. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The firm has a market capitalization of $14.52 billion, a P/E ratio of 38.47, a P/E/G ratio of 2.81 and a beta of 1.50. The stock has a 50 day moving average price of $22.73 and a 200 day moving average price of $23.38.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. As a group, sell-side analysts predict that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, March 7th. Kimco Realty’s dividend payout ratio (DPR) is presently 178.57%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KIM. Mizuho raised their price target on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. UBS Group raised their price target on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird raised their price target on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Jefferies Financial Group cut Kimco Realty from a “buy” rating to a “hold” rating and cut their price target for the company from $28.00 to $25.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.83.

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.