National Pension Service Sells 47,737 Shares of Kimco Realty Corp (NYSE:KIM)

National Pension Service trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 66.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,270 shares of the real estate investment trust’s stock after selling 47,737 shares during the quarter. National Pension Service’s holdings in Kimco Realty were worth $564,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of KIM. Vanguard Group Inc. boosted its position in 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 valued at $2,162,347,000 after purchasing an additional 7,931,013 shares in the last quarter. APG Asset Management US Inc. boosted its holdings in shares of Kimco Realty by 1.6% in the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock valued at $288,155,000 after buying an additional 240,000 shares in the last quarter. Centersquare Investment Management LLC grew its position in shares of Kimco Realty by 76.8% in the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after buying an additional 6,282,891 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Kimco Realty by 11.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock worth $221,740,000 after acquiring an additional 1,193,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Kimco Realty by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,129,551 shares of the real estate investment trust’s stock valued at $197,116,000 after acquiring an additional 94,811 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

Kimco Realty stock opened at $24.66 on Friday. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 4.08 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a 50 day simple moving average of $23.57 and a 200-day simple moving average of $21.27. Kimco Realty Corp has a 1-year low of $17.51 and a 1-year high of $25.01.

Kimco Realty (NYSE:KIM) last posted 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 business had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. Kimco Realty’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, analysts expect that Kimco Realty Corp will post 1.63 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.25 dividend. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.06%. Kimco Realty’s payout ratio is presently 174.55%.

Analysts Set New Price Targets

KIM has been the topic of several analyst reports. 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 report on Wednesday, August 28th. Evercore ISI boosted 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. Scotiabank increased their price target on Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Raymond James upgraded 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, Wells Fargo & Company lifted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Kimco Realty has an average rating of “Moderate Buy” and an average price target of $23.55.

About Kimco Realty

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.