Aberdeen Group plc Cuts Stock Holdings in Kimco Realty Corporation $KIM

Key Points

• Aberdeen Group plc has reduced its holdings in Kimco Realty Corporation by 54.2%, now owning approximately 0.10% of the company, worth $14.45 million.
• Kimco Realty reported a quarterly earnings per share (EPS) of $0.44, exceeding analyst predictions and showing a 5.0% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.25 per share, representing a 4.7% dividend yield, with a payout ratio of 120.48%.

Aberdeen Group plc trimmed its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 54.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682,957 shares of the real estate investment trust's stock after selling 807,940 shares during the quarter. Aberdeen Group plc owned approximately 0.10% of Kimco Realty worth $14,455,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in Kimco Realty by 177.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 911 shares in the last quarter. WASHINGTON TRUST Co purchased a new stake in Kimco Realty in the 1st quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new stake in Kimco Realty in the 1st quarter worth $38,000. Olde Wealth Management LLC purchased a new stake in Kimco Realty in the 1st quarter worth $41,000. Finally, Sentry Investment Management LLC purchased a new stake in Kimco Realty in the 1st quarter worth $45,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Stock Down 0.4%

Shares of KIM opened at $21.12 on Tuesday. The stock has a market capitalization of $14.30 billion, a PE ratio of 25.44, a P/E/G ratio of 1.55 and a beta of 1.31. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The company's 50-day simple moving average is $21.29 and its 200-day simple moving average is $21.11.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business had revenue of $525.18 million for the quarter, compared to analysts' expectations of $524.75 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business's quarterly revenue was up 5.0% on a year-over-year basis. Analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, September 5th. Kimco Realty's dividend payout ratio is presently 120.48%.

Analysts Set New Price Targets

KIM has been the subject of several recent analyst reports. Scotiabank cut their price target on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Raymond James Financial cut their price target on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Monday, May 5th. Piper Sandler cut their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, Barclays initiated coverage on shares of Kimco Realty in a report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 target price for the company. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.57.

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.

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