Kimco Realty Corp (NYSE:KIM) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its position in shares of Kimco Realty Corp (NYSE:KIM) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,103 shares of the real estate investment trust’s stock after selling 27,595 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Kimco Realty were worth $2,143,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Analyst IMS Investment Management Services Ltd. grew its stake in Kimco Realty by 157.1% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 167,422 shares of the real estate investment trust’s stock worth $3,568,000 after acquiring an additional 102,300 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Kimco Realty by 71.0% during the first quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock worth $3,531,000 after purchasing an additional 74,729 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 worth $2,162,347,000 after purchasing an additional 7,931,013 shares during the last quarter. Evoke Wealth LLC purchased a new stake in shares of Kimco Realty in the fourth quarter valued at $4,181,000. Finally, Forsta AP Fonden increased its stake in Kimco Realty by 232.9% in the first quarter. Forsta AP Fonden now owns 435,800 shares of the real estate investment trust’s stock valued at $8,546,000 after purchasing an additional 304,900 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Price Performance

KIM opened at $23.58 on Wednesday. Kimco Realty Corp has a twelve month low of $16.34 and a twelve month high of $24.25. 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 firm has a market cap of $15.90 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 4.01 and a beta of 1.51. The company has a fifty day simple moving average of $22.22 and a 200 day simple moving average of $20.07.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). The business had revenue of $500.20 million for 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%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. Equities research analysts expect that Kimco Realty Corp will post 1.62 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.07%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.13%.

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of the stock in a transaction dated 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 owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on KIM. Evercore ISI lifted their price target on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group increased their target price on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.55.

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.