Allstate Corp Sells 72,259 Shares of Kimco Realty Corporation $KIM

Key Points

• Allstate Corp has reduced its holdings in Kimco Realty Corporation by 59.0%, selling 72,259 shares and leaving it with 50,273 shares valued at approximately $1,068,000.
• Various institutional investors, including Northern Trust Corp and Invesco Ltd., have increased their stakes in Kimco Realty, indicating strong institutional interest with 89.25% of the stock currently owned by institutional investors.
• Kimco Realty has declared a quarterly dividend of $0.25, representing a 4.5% yield, with an ex-dividend date on September 5th and a payout ratio of 120.48%.

Allstate Corp reduced its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 59.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,273 shares of the real estate investment trust's stock after selling 72,259 shares during the period. Allstate Corp's holdings in Kimco Realty were worth $1,068,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KIM. Northern Trust Corp grew its position in Kimco Realty by 55.0% during the fourth quarter. Northern Trust Corp now owns 10,304,972 shares of the real estate investment trust's stock valued at $241,446,000 after acquiring an additional 3,658,528 shares during the last quarter. Invesco Ltd. grew its position in Kimco Realty by 14.7% during the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock valued at $423,441,000 after acquiring an additional 2,552,276 shares during the last quarter. Deutsche Bank AG grew its position in Kimco Realty by 94.7% during the fourth quarter. Deutsche Bank AG now owns 4,177,662 shares of the real estate investment trust's stock valued at $97,883,000 after acquiring an additional 2,031,722 shares during the last quarter. Resolution Capital Ltd grew its position in Kimco Realty by 13.7% during the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock valued at $388,442,000 after acquiring an additional 1,992,550 shares during the last quarter. Finally, Kettle Hill Capital Management LLC grew its position in Kimco Realty by 180.9% during the fourth quarter. Kettle Hill Capital Management LLC now owns 1,409,811 shares of the real estate investment trust's stock valued at $33,032,000 after acquiring an additional 907,929 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Piper Sandler reduced their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Mizuho raised their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Raymond James Financial cut their target price on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Monday, May 5th. Finally, Barclays assumed coverage on shares of Kimco Realty in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.63.

Kimco Realty Stock Up 2.9%

Shares of Kimco Realty stock opened at $22.1850 on Monday. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 1.61 and a beta of 1.31. The company's 50 day moving average price is $21.35 and its 200-day moving average price is $21.09. Kimco Realty Corporation has a 52-week low of $17.93 and a 52-week 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.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $525.18 million for the quarter, compared to analysts' expectations of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Equities research analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 4.5%. Kimco Realty's payout ratio is 120.48%.

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.

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