Douglas Lane & Associates LLC Has $26.66 Million Position in Kimco Realty Corporation $KIM

Key Points

• Douglas Lane & Associates LLC has reduced its stake in Kimco Realty Corporation by 4.8% in Q2, now holding 1,268,382 shares valued at approximately $26.66 million.
• Several institutional investors have significantly increased their positions in Kimco Realty, with Amundi leading the charge with a 54.2% increase in shares during the first quarter.
• Kimco Realty recently announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 4.5% despite a high payout ratio of 120.48%.

Douglas Lane & Associates LLC cut its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,268,382 shares of the real estate investment trust's stock after selling 63,317 shares during the period. Douglas Lane & Associates LLC owned 0.19% of Kimco Realty worth $26,661,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of KIM. Amundi boosted its position in Kimco Realty by 54.2% during the first quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock valued at $186,646,000 after purchasing an additional 3,253,031 shares during the last quarter. Invesco Ltd. boosted its position in Kimco Realty by 14.7% during the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock valued at $423,441,000 after purchasing an additional 2,552,276 shares during the last quarter. Centersquare Investment Management LLC boosted its position in Kimco Realty by 8.9% during the first quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock valued at $191,170,000 after purchasing an additional 733,514 shares during the last quarter. SG Americas Securities LLC boosted its position in Kimco Realty by 3,689.2% during the first quarter. SG Americas Securities LLC now owns 709,410 shares of the real estate investment trust's stock valued at $15,068,000 after purchasing an additional 690,688 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kimco Realty by 105.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,259,781 shares of the real estate investment trust's stock valued at $26,758,000 after purchasing an additional 648,021 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $22.41 on Friday. The firm has a market cap of $15.17 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $25.83. The business's 50 day moving average is $21.74 and its 200-day moving average is $21.15.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its 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 company had revenue of $525.18 million for 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 firm'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 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Equities research analysts predict 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 will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. Kimco Realty's dividend payout ratio (DPR) is 120.48%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KIM. LADENBURG THALM/SH SH began coverage on Kimco Realty in a research report on Tuesday, September 9th. They set a "buy" rating and a $27.00 price target for the company. Piper Sandler reduced their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Monday, September 8th. Mizuho raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Finally, Barclays raised their price objective on Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.85.

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.

Want to see what other hedge funds are holding KIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimco Realty Corporation (NYSE:KIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.