Bank of Nova Scotia Lowers Position in Kimco Realty Corporation (NYSE:KIM)

Bank of Nova Scotia cut its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 20.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,183 shares of the real estate investment trust's stock after selling 19,212 shares during the quarter. Bank of Nova Scotia's holdings in Kimco Realty were worth $1,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of KIM. LPL Financial LLC boosted its stake in shares of Kimco Realty by 23.6% in the fourth quarter. LPL Financial LLC now owns 132,205 shares of the real estate investment trust's stock valued at $3,098,000 after buying an additional 25,254 shares during the period. Aviva PLC increased its position in Kimco Realty by 1,532.5% during the 4th quarter. Aviva PLC now owns 405,418 shares of the real estate investment trust's stock worth $9,499,000 after purchasing an additional 380,584 shares in the last quarter. FMR LLC lifted its stake in shares of Kimco Realty by 7.9% in the 4th quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust's stock valued at $564,560,000 after acquiring an additional 1,755,684 shares during the last quarter. Polymer Capital Management US LLC bought a new position in Kimco Realty in the fourth quarter valued at about $230,000. Finally, Bank of Montreal Can boosted its position in Kimco Realty by 1.9% during the 4th quarter. Bank of Montreal Can now owns 673,139 shares of the real estate investment trust's stock worth $15,772,000 after buying an additional 12,361 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KIM has been the subject of a number of recent analyst reports. Barclays assumed 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 dropped their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Monday, May 5th. Scotiabank reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Piper Sandler decreased their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

Kimco Realty Stock Down 1.9%

NYSE:KIM traded down $0.40 during mid-day trading on Friday, hitting $20.80. 3,489,990 shares of the company's stock were exchanged, compared to its average volume of 4,905,712. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.47. The company has a market cap of $14.08 billion, a PE ratio of 25.05, a P/E/G ratio of 1.56 and a beta of 1.31. The business has a fifty day moving average price of $21.27 and a 200 day moving average price of $21.19. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 EPS 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 return on equity of 5.58% and a net margin of 28.54%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. Equities analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued 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 4.8%. Kimco Realty's dividend payout ratio is currently 120.48%.

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.