Bank of New York Mellon Corp Sells 190,259 Shares of Kimco Realty Corporation (NYSE:KIM)

Bank of New York Mellon Corp lowered its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 SEC filing.

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

Kimco Realty Stock Performance

Kimco Realty stock traded up $0.11 during trading hours on Friday, reaching $21.48. 3,593,380 shares of the company were exchanged, compared to its average volume of 4,520,210. The firm has a market cap of $14.53 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.58 and a beta of 1.24. 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 stock has a 50-day moving average of $21.07 and a 200 day moving average of $21.33. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $536.62 million during the quarter, compared to analysts' expectations 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 quarter in the prior year, the business earned $0.39 earnings per share. As a group, research analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.25 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.66%. Kimco Realty's payout ratio is 129.87%.

Wall Street Analyst Weigh In

KIM has been the topic of several research reports. Raymond James Financial dropped their price target 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. Wells Fargo & Company dropped their price target 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. Citigroup dropped their price target 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. Wall Street Zen cut shares of Kimco Realty from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Finally, Barclays assumed coverage on shares of Kimco Realty in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Kimco Realty presently has a consensus rating of "Hold" and an average target price of $24.70.

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.