Douglas Lane & Associates LLC Sells 63,317 Shares of 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 lowered its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 approximately 0.19% of Kimco Realty worth $26,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AlphaQuest LLC purchased a new stake in Kimco Realty during the 1st quarter valued at about $29,000. Golden State Wealth Management LLC raised its position in shares of 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 valued at $30,000 after buying an additional 911 shares during the last quarter. Keystone Global Partners LLC acquired a new position in Kimco Realty during the first quarter worth approximately $30,000. WASHINGTON TRUST Co purchased a new position in shares of Kimco Realty in the first quarter valued at $34,000. Finally, GKV Capital Management Co. Inc. bought a new position in Kimco Realty during the 1st quarter valued at $38,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KIM. Evercore ISI raised their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a report on Monday, September 8th. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays lifted their target price on Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Mizuho boosted their price target on Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, LADENBURG THALM/SH SH initiated coverage on Kimco Realty in a report on Tuesday, September 9th. They issued a "buy" rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.85.

Kimco Realty Price Performance

KIM stock traded down $0.18 during trading on Friday, hitting $22.00. 1,845,900 shares of the stock traded hands, compared to its average volume of 4,671,246. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83. The company has a 50 day simple moving average of $21.82 and a 200 day simple moving average of $21.16. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 1.59 and a beta of 1.32.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Equities analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's dividend payout ratio is 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.