Truist Financial Corp Buys 746 Shares of Kimco Realty Corp (NYSE:KIM)

Truist Financial Corp lifted its position in Kimco Realty Corp (NYSE:KIM) by 2.0% in the second quarter, Holdings Channel reports. The firm owned 37,223 shares of the real estate investment trust’s stock after buying an additional 746 shares during the period. Truist Financial Corp’s holdings in Kimco Realty were worth $724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KIM. Blue Trust Inc. lifted its holdings in shares of Kimco Realty by 613.5% in the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,816 shares during the period. 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 period. UMB Bank n.a. grew its holdings in Kimco Realty by 112.6% during the 2nd 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 in the last quarter. Fidelis Capital Partners LLC purchased a new position in Kimco Realty during the 1st quarter valued at about $70,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Kimco Realty by 378.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 3,144 shares during the period. Institutional investors own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

KIM has been the topic of a number of recent research reports. Evercore ISI increased their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Compass Point upped their price objective on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research note 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 price target for the company in a research report on Friday, August 16th. Finally, Scotiabank lifted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.55.

Kimco Realty Trading Up 1.0 %

NYSE KIM opened at $23.41 on Tuesday. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $24.25. The company has a fifty day simple moving average of $22.96 and a two-hundred day simple moving average of $20.58. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. The stock has a market cap of $15.78 billion, a P/E ratio of 44.17, a P/E/G ratio of 3.95 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (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 analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. On average, analysts forecast that Kimco Realty Corp will post 1.62 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is 181.13%.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.20% of the stock is owned by insiders.

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.