Allspring Global Investments Holdings LLC Sells 645 Shares of Kimco Realty Corp (NYSE:KIM)

Allspring Global Investments Holdings LLC trimmed its stake in Kimco Realty Corp (NYSE:KIM) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,970 shares of the real estate investment trust’s stock after selling 645 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kimco Realty were worth $603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KIM. Canada Pension Plan Investment Board acquired a new stake in shares of Kimco Realty in the first quarter worth $200,043,000. Vanguard Group Inc. boosted its holdings in Kimco Realty by 7.7% during the first 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 acquiring an additional 7,931,013 shares during the period. Norges Bank acquired a new stake in shares of Kimco Realty in the fourth quarter valued at about $150,326,000. Centersquare Investment Management LLC increased its stake in shares of Kimco Realty by 76.8% in the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after purchasing an additional 6,282,891 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Kimco Realty during the 4th quarter worth about $84,678,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $23.11 on Friday. The company’s fifty day moving average is $21.46 and its 200-day moving average is $19.82. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. Kimco Realty Corp has a 52 week low of $16.34 and a 52 week high of $23.53. The company has a market capitalization of $15.58 billion, a PE ratio of 43.60, a P/E/G ratio of 3.96 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. Equities research analysts predict that Kimco Realty Corp will post 1.62 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The firm 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 $0.24 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.96 annualized dividend and a yield of 4.15%. Kimco Realty’s payout ratio is 181.13%.

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares in the company, valued at $7,389,473.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

KIM has been the topic of a number of research analyst reports. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and raised their target price for the company from $20.00 to $23.00 in a report on Monday, August 19th. Wells Fargo & Company boosted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Robert W. Baird increased their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Raymond James upgraded 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. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.21.

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.