Kimco Realty Corporation (NYSE:KIM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.85% of Kimco Realty worth $122,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of Kimco Realty in the fourth quarter worth about $26,000. Golden State Wealth Management LLC boosted its stake in shares of 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 valued at $30,000 after purchasing an additional 911 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in Kimco Realty by 78.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 575 shares during the last quarter. WASHINGTON TRUST Co bought a new position in Kimco Realty in the 1st quarter worth $34,000. Finally, Olde Wealth Management LLC bought a new position in Kimco Realty in the 1st quarter worth $41,000. Hedge funds and other institutional investors own 89.25% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KIM shares. Piper Sandler reduced their target price on shares of Kimco Realty from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Raymond James Financial reduced 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 research report on Monday, May 5th. Citigroup reduced their target price on shares of Kimco Realty from $27.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Scotiabank reduced their target price on shares of 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, Wells Fargo & Company reduced their target price on shares of 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $24.70.

Kimco Realty Trading Up 0.5%

Shares of KIM stock traded up $0.11 during trading hours on Friday, reaching $21.48. 3,593,255 shares of the stock were exchanged, compared to its average volume of 4,515,316. 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 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 0.75. The company's 50-day moving average price is $21.05 and its 200-day moving average price is $21.38. The firm has a market capitalization of $14.53 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $536.62 million during the quarter, compared to analyst estimates of $520.68 million. Kimco Realty had a net margin of 26.79% and a return on equity of 5.17%. The company's quarterly revenue was up 965.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, equities analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Friday, June 6th. Kimco Realty's dividend payout ratio (DPR) is currently 129.87%.

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.