APG Asset Management US Inc. Sells 1,345,125 Shares of Kimco Realty Corporation $KIM

Key Points

• APG Asset Management US Inc. reduced its stake in Kimco Realty Corporation by 9.6%, selling 1,345,125 shares, and now owns 12,648,074 shares, representing approximately 2.0% of its investment portfolio.
• Analysts have issued mixed ratings on Kimco Realty, with upgrades and price target increases, leading to a consensus rating of "Moderate Buy" and an average target price of $24.63.
• Kimco Realty announced a quarterly dividend of $0.25, providing an annual yield of 4.6%, while its dividend payout ratio stands at 120.48%.

APG Asset Management US Inc. cut its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 9.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,648,074 shares of the real estate investment trust's stock after selling 1,345,125 shares during the quarter. Kimco Realty accounts for about 2.0% of APG Asset Management US Inc.'s investment portfolio, making the stock its 15th largest holding. APG Asset Management US Inc. owned 1.87% of Kimco Realty worth $267,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in KIM. AlphaQuest LLC bought a new stake in shares of Kimco Realty in the first quarter worth approximately $29,000. Golden State Wealth Management LLC grew its stake in shares of Kimco Realty by 177.6% in the first 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 during the period. Keystone Global Partners LLC bought a new stake in shares of Kimco Realty in the first quarter worth approximately $30,000. WASHINGTON TRUST Co bought a new stake in Kimco Realty during the first quarter valued at approximately $34,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Kimco Realty during the first quarter valued at approximately $38,000. 89.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on KIM shares. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Mizuho boosted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday. Barclays started coverage on shares of Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 target price for the company. Raymond James Financial cut their target price on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Monday, May 5th. Finally, Piper Sandler cut their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.63.

Kimco Realty Stock Performance

KIM opened at $21.5350 on Friday. The firm has a market cap of $14.58 billion, a P/E ratio of 25.95, a PEG ratio of 1.57 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 50 day simple moving average of $21.32 and a two-hundred day simple moving average of $21.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $525.18 million during the quarter, compared to analyst estimates of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The company's revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Equities 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 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, September 5th. Kimco Realty's dividend payout ratio is presently 120.48%.

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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