Federated Hermes Inc. Cuts Position in Kimco Realty Corporation (NYSE:KIM)

Key Points

• Federated Hermes Inc. has reduced its stake in Kimco Realty Corporation by 0.5%, owning approximately 1.07% of the company after selling 32,831 shares in the first quarter.
• Analysts have mixed opinions on Kimco Realty, with price targets from $23.00 to $28.00, and a consensus rating of "Hold" according to MarketBeat.com.
• Kimco Realty's stock recently reported $0.44 EPS for the last quarter, surpassing expectations, with a significant year-over-year revenue increase of 965.3%.

Federated Hermes Inc. decreased its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,245,649 shares of the real estate investment trust's stock after selling 32,831 shares during the quarter. Federated Hermes Inc. owned approximately 1.07% of Kimco Realty worth $153,898,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Advisory Services Inc. grew its stake in shares of Kimco Realty by 4.1% in the first quarter. Meeder Advisory Services Inc. now owns 16,412 shares of the real estate investment trust's stock worth $349,000 after acquiring an additional 653 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Kimco Realty by 11.8% in the first quarter. Mackenzie Financial Corp now owns 72,596 shares of the real estate investment trust's stock worth $1,542,000 after acquiring an additional 7,689 shares during the last quarter. LPL Financial LLC grew its stake in shares of Kimco Realty by 33.3% in the first quarter. LPL Financial LLC now owns 176,215 shares of the real estate investment trust's stock worth $3,743,000 after acquiring an additional 44,010 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Kimco Realty by 105.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,259,781 shares of the real estate investment trust's stock worth $26,758,000 after acquiring an additional 648,021 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of Kimco Realty by 13.6% in the first quarter. HB Wealth Management LLC now owns 10,434 shares of the real estate investment trust's stock worth $222,000 after acquiring an additional 1,246 shares during the last quarter. Institutional investors own 89.25% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on KIM. Barclays began coverage on Kimco Realty in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price on the stock. Wall Street Zen cut Kimco Realty from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Piper Sandler dropped their price objective 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. Scotiabank dropped their price objective 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. Finally, Raymond James Financial dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Kimco Realty presently has an average rating of "Hold" and an average target price of $24.70.

Kimco Realty Stock Performance

Shares of NYSE KIM traded up $0.41 during trading on Tuesday, hitting $21.96. The company had a trading volume of 5,742,666 shares, compared to its average volume of 3,619,844. The stock has a 50 day simple moving average of $21.21 and a 200 day simple moving average of $21.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.47 and a current ratio of 3.47. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83. The firm has a market capitalization of $14.86 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24.

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

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.55%. The ex-dividend date was Friday, June 6th. Kimco Realty's dividend payout ratio (DPR) is presently 129.87%.

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.