First Citizens Bank & Trust Co. Sells 1,463 Shares of Kimco Realty Corp (NYSE:KIM)

First Citizens Bank & Trust Co. trimmed its holdings in Kimco Realty Corp (NYSE:KIM) by 1.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 112,985 shares of the real estate investment trust’s stock after selling 1,463 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Kimco Realty were worth $2,624,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position 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 acquiring an additional 74,729 shares during the last quarter. Vanguard Group Inc. grew its position 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 valued at $2,162,347,000 after purchasing an additional 7,931,013 shares in the last quarter. Forsta AP Fonden grew its position in shares of Kimco Realty by 232.9% during 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 in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Kimco Realty by 63.5% in the first quarter. BNP Paribas Financial Markets now owns 1,031,957 shares of the real estate investment trust’s stock worth $20,237,000 after purchasing an additional 400,825 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Kimco Realty by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock worth $73,195,000 after buying an additional 103,861 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

KIM opened at $24.62 on Friday. The business has a fifty day moving average of $23.17 and a 200 day moving average of $20.72. The stock has a market cap of $16.60 billion, a P/E ratio of 46.45, a PEG ratio of 3.95 and a beta of 1.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty Corp has a 52-week low of $16.34 and a 52-week high of $24.67.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The company had revenue of $500.20 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, sell-side analysts anticipate that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were paid a $0.24 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 3.90%. Kimco Realty’s dividend payout ratio is currently 181.13%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KIM shares. Truist Financial raised their price target on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Wells Fargo & Company boosted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. 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. Finally, Robert W. Baird upped their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.55.

Insider Buying and Selling

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of Kimco Realty 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 completion of the sale, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

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.