Blue Trust Inc. Purchases 1,816 Shares of Kimco Realty Corp (NYSE:KIM)

Blue Trust Inc. grew its position in shares of Kimco Realty Corp (NYSE:KIM) by 613.5% in the second quarter, HoldingsChannel reports. The fund owned 2,112 shares of the real estate investment trust’s stock after acquiring an additional 1,816 shares during the period. Blue Trust Inc.’s holdings in Kimco Realty were worth $41,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in KIM. Canada Pension Plan Investment Board bought a new stake in shares of Kimco Realty in the first quarter worth $200,043,000. Vanguard Group Inc. increased its stake in Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after buying an additional 7,931,013 shares during the last quarter. Norges Bank bought a new stake in Kimco Realty during the 4th quarter worth about $150,326,000. Centersquare Investment Management LLC boosted its stake in shares of Kimco Realty by 76.8% during the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after buying an additional 6,282,891 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Kimco Realty in the 4th quarter valued at about $84,678,000. 89.25% of the stock is owned by institutional investors.

Insider Transactions at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 337,111 shares in the company, valued at $7,389,473.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KIM. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Piper Sandler reissued an “overweight” rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Truist Financial decreased their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and a consensus price target of $22.73.

Kimco Realty Stock Performance

NYSE KIM opened at $23.23 on Friday. The stock has a market cap of $15.66 billion, a PE ratio of 43.83, a P/E/G ratio of 4.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. The firm has a 50-day moving average of $20.76 and a 200-day moving average of $19.63. Kimco Realty Corp has a 52-week low of $16.34 and a 52-week high of $23.31.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. During the same quarter last year, the business earned $0.39 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that Kimco Realty Corp will post 1.6 EPS for the current year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.13%. The ex-dividend date is Thursday, September 5th. Kimco Realty’s payout ratio is 181.13%.

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.