Kimco Realty Corp (NYSE:KIM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Kimco Realty Corp (NYSE:KIM) by 34.1% in the second quarter, Holdings Channel.com reports. The fund owned 879,947 shares of the real estate investment trust’s stock after selling 455,799 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Kimco Realty were worth $17,124,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Principal Securities Inc. purchased a new position in Kimco Realty in the fourth quarter worth approximately $29,000. Blue Trust Inc. lifted its stake in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 773 shares during the last quarter. UMB Bank n.a. lifted its stake in Kimco Realty by 112.6% in the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 1,787 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Kimco Realty in the first quarter worth approximately $70,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kimco Realty

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

Kimco Realty Stock Performance

Shares of KIM opened at $24.02 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $16.19 billion, a P/E ratio of 45.32, a P/E/G ratio of 4.01 and a beta of 1.51. The company’s fifty day moving average is $22.03 and its two-hundred day moving average is $20.00. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $24.06.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Kimco Realty Corp will post 1.62 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.00%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.14%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KIM shares. Truist Financial lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Friday, August 16th. 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 research report on Friday, August 2nd. Wells Fargo & Company boosted their price objective 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. Finally, Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and an average price target of $23.48.

Kimco Realty 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.