Bank of America Corp DE Lowers Stock Position in Kimco Realty Corp (NYSE:KIM)

Bank of America Corp DE trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 37.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,678,608 shares of the real estate investment trust’s stock after selling 4,079,250 shares during the period. Bank of America Corp DE owned about 0.99% of Kimco Realty worth $156,480,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in shares of Kimco Realty by 14.3% during the 3rd quarter. Barclays PLC now owns 1,848,159 shares of the real estate investment trust’s stock valued at $42,915,000 after acquiring an additional 231,606 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Kimco Realty in the third quarter valued at $31,000. Tidal Investments LLC raised its stake in shares of Kimco Realty by 17.9% during the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 5,466 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Kimco Realty by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock worth $1,319,000 after buying an additional 3,614 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in Kimco Realty in the 4th quarter valued at about $303,000. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Stock Up 0.7 %

NYSE KIM opened at $20.82 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The business has a 50 day moving average price of $20.56 and a two-hundred day moving average price of $22.43. The stock has a market cap of $14.15 billion, a PE ratio of 37.18, a P/E/G ratio of 2.78 and a beta of 1.26.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The company had revenue of $536.62 million during the quarter, compared to analysts’ expectations of $520.68 million. During the same period in the prior year, the company posted $0.39 EPS. The firm’s revenue for the quarter was up 965.3% on a year-over-year basis. As a group, sell-side analysts predict that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Friday, June 6th. Kimco Realty’s payout ratio is 129.87%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KIM. Scotiabank reduced their price target on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price objective on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Mizuho cut their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Piper Sandler decreased their price target on shares of Kimco Realty from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.68.

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.