Deutsche Bank AG Reduces Holdings in Kimco Realty Corporation (NYSE:KIM)

Deutsche Bank AG reduced its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 28.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,006,125 shares of the real estate investment trust’s stock after selling 1,171,537 shares during the period. Deutsche Bank AG’s holdings in Kimco Realty were worth $63,850,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in Kimco Realty by 177.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 911 shares in the last quarter. WASHINGTON TRUST Co purchased a new stake in shares of Kimco Realty during the first quarter worth about $34,000. Olde Wealth Management LLC purchased a new stake in shares of Kimco Realty during the first quarter worth about $41,000. Sentry Investment Management LLC purchased a new stake in shares of Kimco Realty during the first quarter worth about $45,000. Finally, Menard Financial Group LLC purchased a new stake in shares of Kimco Realty during the fourth quarter worth about $90,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KIM has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Piper Sandler lowered their price target on shares of Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Barclays initiated coverage on shares of Kimco Realty in a report on Wednesday, July 2nd. They set an “overweight” rating and a $25.00 price target for the company. Scotiabank lowered their price target on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Finally, Raymond James Financial decreased their target price on shares of Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kimco Realty presently has a consensus rating of “Moderate Buy” and an average target price of $24.57.

Kimco Realty Trading Up 0.1%

Shares of KIM stock opened at $20.83 on Tuesday. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.52 and a beta of 1.31. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The firm’s 50 day moving average price is $21.26 and its two-hundred day moving average price is $21.16.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $525.18 million for the quarter, compared to analysts’ expectations of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. Kimco Realty’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. On average, analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty’s payout ratio is 120.48%.

Kimco Realty Company 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.