Federated Hermes Inc. Raises Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Federated Hermes Inc. lifted its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 23.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,075 shares of the real estate investment trust’s stock after acquiring an additional 18,415 shares during the period. Federated Hermes Inc.’s holdings in Kimco Realty were worth $1,870,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KIM. Cascade Investment Advisors Inc. grew its position in Kimco Realty by 1.1% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock worth $1,110,000 after purchasing an additional 640 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Kimco Realty by 5.0% during the second quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 663 shares during the period. Baker Ellis Asset Management LLC grew its holdings in shares of Kimco Realty by 0.5% during the first quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock worth $2,545,000 after buying an additional 680 shares during the last quarter. Quadrant Capital Group LLC increased its position in Kimco Realty by 17.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 717 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in 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 valued at $42,000 after acquiring an additional 773 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Evercore ISI boosted their target price on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research note on Friday, August 16th. Finally, Compass Point increased their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.

Kimco Realty Stock Performance

Shares of KIM stock opened at $23.24 on Friday. The stock has a fifty day moving average price of $22.41 and a 200 day moving average price of $20.14. 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 cap of $15.67 billion, a PE ratio of 43.85, a P/E/G ratio of 4.01 and a beta of 1.51. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $24.25.

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

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.13%. Kimco Realty’s dividend payout ratio (DPR) is 181.13%.

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.