Kimco Realty Corp (NYSE:KIM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in shares of Kimco Realty Corp (NYSE:KIM) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 309,726 shares of the real estate investment trust’s stock after selling 31,060 shares during the period. Franklin Resources Inc.’s holdings in Kimco Realty were worth $7,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new position in Kimco Realty during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kimco Realty in the third quarter valued at approximately $31,000. Brooklyn Investment Group purchased a new position in shares of Kimco Realty during the third quarter worth approximately $37,000. Quarry LP acquired a new position in shares of Kimco Realty in the 3rd quarter valued at $51,000. Finally, Castleview Partners LLC purchased a new stake in Kimco Realty in the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Price Performance

KIM stock opened at $23.42 on Monday. The firm has a 50 day moving average of $24.57 and a 200-day moving average of $22.61. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 3.20 and a beta of 1.50. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 12-month low of $17.57 and a 12-month high of $25.83.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The firm had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts expect that Kimco Realty Corp will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.25 per share. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Thursday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is 181.82%.

Analyst Upgrades and Downgrades

KIM has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Mizuho raised their price target on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Truist Financial upped their price objective on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Compass Point lifted their target price on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird boosted their target price on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.83.

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.