Bank of New York Mellon Corp Trims Stake in Kimco Realty Corporation (NYSE:KIM)

Bank of New York Mellon Corp lowered its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,763,061 shares of the real estate investment trust's stock after selling 190,259 shares during the period. Bank of New York Mellon Corp owned approximately 0.85% of Kimco Realty worth $122,407,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Keybank National Association OH increased its position in shares of Kimco Realty by 4.0% in the fourth quarter. Keybank National Association OH now owns 13,033 shares of the real estate investment trust's stock worth $305,000 after purchasing an additional 496 shares during the period. GF Fund Management CO. LTD. increased its position in shares of Kimco Realty by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 12,767 shares of the real estate investment trust's stock worth $271,000 after purchasing an additional 517 shares during the period. Global Assets Advisory LLC increased its position in shares of Kimco Realty by 5.4% in the fourth quarter. Global Assets Advisory LLC now owns 10,363 shares of the real estate investment trust's stock worth $238,000 after purchasing an additional 528 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Kimco Realty by 0.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 58,335 shares of the real estate investment trust's stock worth $1,239,000 after purchasing an additional 530 shares during the period. Finally, Avantax Advisory Services Inc. increased its position in shares of Kimco Realty by 4.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 12,839 shares of the real estate investment trust's stock worth $301,000 after purchasing an additional 539 shares during the period. Institutional investors own 89.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KIM shares. Barclays started coverage on Kimco Realty in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price on the stock. Wells Fargo & Company decreased their target price on Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Raymond James Financial decreased their target price on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Monday, May 5th. Scotiabank decreased their target price on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut Kimco Realty from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $24.70.

Kimco Realty Stock Performance

NYSE:KIM traded up $0.11 during trading on Wednesday, reaching $21.19. The company's stock had a trading volume of 3,765,280 shares, compared to its average volume of 4,997,172. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.47 and a current ratio of 3.47. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83. The firm has a 50 day moving average of $21.03 and a 200-day moving average of $21.38.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $536.62 million for the quarter, compared to analyst estimates of $520.68 million. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. The company's revenue was up 965.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. Research analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Friday, June 6th. Kimco Realty's dividend payout ratio is currently 129.87%.

Kimco Realty Company 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.