Oppenheimer Asset Management Inc. Trims Stock Position in Kimco Realty Corp (NYSE:KIM)

Oppenheimer Asset Management Inc. cut its stake in shares of Kimco Realty Corp (NYSE:KIM) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,692 shares of the real estate investment trust’s stock after selling 4,286 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Kimco Realty were worth $875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in Kimco Realty during the 3rd quarter valued at approximately $25,000. Blue Trust Inc. raised its stake in Kimco Realty by 613.5% during the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Kimco Realty by 52.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 773 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 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 buying an additional 1,787 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 worth $77,000 after buying an additional 3,144 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $25.10 on Tuesday. The business’s fifty day moving average price is $23.77 and its two-hundred day moving average price is $21.57. The stock has a market cap of $16.92 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 3.29 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.19.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The company had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. Kimco Realty’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. On average, analysts forecast that Kimco Realty Corp will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.25 per share. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.98%. Kimco Realty’s dividend payout ratio (DPR) is 174.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KIM shares. Evercore ISI increased their target price on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial increased their target price on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Compass Point increased their target price on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Raymond James raised 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. Finally, Robert W. Baird raised their price objective on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and a consensus price target of $24.14.

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.