Kimco Realty Corporation $KIM Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Kimco Realty Corporation by 79.5%, holding 237,865 shares worth $5.05 million after selling 925,222 shares.
• Several institutional investors, including Golden State Wealth Management LLC and WASHINGTON TRUST Co, have recently acquired new positions in Kimco Realty, contributing to institutional ownership of 89.25%.
• Kimco Realty announced a quarterly dividend of $0.25, with a dividend yield of 4.5%, reflecting a payout ratio of 120.48%.

American Century Companies Inc. reduced its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 79.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 237,865 shares of the real estate investment trust's stock after selling 925,222 shares during the quarter. American Century Companies Inc.'s holdings in Kimco Realty were worth $5,052,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Squarepoint Ops LLC raised its stake in Kimco Realty by 40.9% during the fourth quarter. Squarepoint Ops LLC now owns 383,862 shares of the real estate investment trust's stock worth $8,994,000 after purchasing an additional 111,496 shares during the period. D.A. Davidson & CO. purchased a new position in Kimco Realty during the first quarter worth about $209,000. Woodline Partners LP purchased a new position in Kimco Realty during the fourth quarter worth about $9,057,000. Concurrent Investment Advisors LLC raised its stake in Kimco Realty by 45.6% during the first quarter. Concurrent Investment Advisors LLC now owns 40,559 shares of the real estate investment trust's stock worth $861,000 after purchasing an additional 12,700 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Kimco Realty by 4.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,524 shares of the real estate investment trust's stock worth $2,167,000 after purchasing an additional 4,051 shares during the period. Hedge funds and other institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Up 0.5%

KIM traded up $0.11 during trading hours on Friday, hitting $22.51. 3,291,369 shares of the company's stock were exchanged, compared to its average volume of 3,817,536. The firm has a market cap of $15.24 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $25.83. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $21.49 and a 200 day moving average of $21.09.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 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 during the quarter, compared to the consensus estimate of $524.75 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. Kimco Realty's dividend payout ratio (DPR) is currently 120.48%.

Wall Street Analyst Weigh In

Several research firms have issued reports on KIM. Mizuho raised their target price on Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Raymond James Financial cut their target price on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Monday, May 5th. Barclays raised their target price on Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday. Piper Sandler cut their target price on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Kimco Realty presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.75.

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.