Envestnet Asset Management Inc. Sells 84,952 Shares of Kimco Realty Corporation (NYSE:KIM)

Envestnet Asset Management Inc. lowered its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 33.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,854 shares of the real estate investment trust's stock after selling 84,952 shares during the period. Envestnet Asset Management Inc.'s holdings in Kimco Realty were worth $3,523,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Adell Harriman & Carpenter Inc. bought a new position in shares of Kimco Realty in the first quarter worth about $469,000. Concurrent Investment Advisors LLC boosted its stake in shares of Kimco Realty by 45.6% in the first quarter. Concurrent Investment Advisors LLC now owns 40,559 shares of the real estate investment trust's stock worth $861,000 after acquiring an additional 12,700 shares during the period. Olde Wealth Management LLC bought a new position in shares of Kimco Realty in the first quarter worth about $41,000. Pacific Heights Asset Management LLC boosted its stake in shares of Kimco Realty by 140.0% in the first quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the real estate investment trust's stock worth $6,372,000 after acquiring an additional 175,000 shares during the period. Finally, IFM Investors Pty Ltd boosted its stake in shares of Kimco Realty by 3.5% in the first quarter. IFM Investors Pty Ltd now owns 284,496 shares of the real estate investment trust's stock worth $6,606,000 after acquiring an additional 9,608 shares during the period. Institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Performance

NYSE:KIM opened at $21.79 on Friday. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $21.20 and a two-hundred day simple moving average of $21.25. The company has a market cap of $14.74 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Kimco Realty had a net margin of 26.79% and a return on equity of 5.17%. The firm had revenue of $536.62 million during the quarter, compared to analysts' expectations of $520.68 million. During the same period in the previous year, the company earned $0.39 earnings per share. Kimco Realty's quarterly revenue was up 965.3% compared to the same quarter last year. As a group, equities analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 4.59%. Kimco Realty's dividend payout ratio is currently 129.87%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KIM shares. Wall Street Zen lowered Kimco Realty from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Piper Sandler decreased their target price on Kimco Realty from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Barclays started coverage on Kimco Realty in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price on the stock. Raymond James Financial decreased their target price on 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. Finally, Scotiabank decreased their target price on 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $24.70.

About Kimco Realty

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.

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