Forsta AP Fonden Trims Holdings in Kimco Realty Corporation (NYSE:KIM)

Key Points

• Forsta AP Fonden reduced its stake in Kimco Realty Corporation by 42.8%, selling 123,000 shares, leaving it with 164,200 shares valued at approximately $3.5 million.
• Several institutional investors, including Northern Trust Corp and Deutsche Bank AG, significantly increased their stakes in Kimco Realty during the previous quarter, with Northern Trust lifting its stake by 55%.
• Kimco Realty announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 4.8%, despite having a payout ratio of 120.48%.

Forsta AP Fonden trimmed its holdings in Kimco Realty Corporation (NYSE:KIM - Free Report) by 42.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,200 shares of the real estate investment trust's stock after selling 123,000 shares during the quarter. Forsta AP Fonden's holdings in Kimco Realty were worth $3,488,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KIM. Resolution Capital Ltd increased its stake in Kimco Realty by 13.7% in the 4th quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock valued at $388,442,000 after buying an additional 1,992,550 shares during the period. Northern Trust Corp increased its stake in Kimco Realty by 55.0% in the 4th quarter. Northern Trust Corp now owns 10,304,972 shares of the real estate investment trust's stock valued at $241,446,000 after buying an additional 3,658,528 shares during the period. Dimensional Fund Advisors LP increased its stake in Kimco Realty by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,243,843 shares of the real estate investment trust's stock valued at $240,010,000 after buying an additional 134,634 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Kimco Realty by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,718,796 shares of the real estate investment trust's stock valued at $206,427,000 after buying an additional 137,249 shares during the period. Finally, Centersquare Investment Management LLC increased its stake in Kimco Realty by 8.9% in the 1st 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 buying an additional 733,514 shares during the period. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Trading Up 0.2%

NYSE:KIM traded up $0.04 on Friday, reaching $21.20. The stock had a trading volume of 3,209,031 shares, compared to its average volume of 4,309,264. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 1.54 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. The firm's fifty day moving average is $21.29 and its two-hundred day moving average is $21.14. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $25.83.

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

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 4.7%. Kimco Realty's dividend payout ratio (DPR) is 120.48%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KIM shares. Piper Sandler lowered their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Barclays started coverage on shares of Kimco Realty in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price target on the stock. Scotiabank lowered their price target on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Raymond James Financial lowered their price target 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. Finally, Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.57.

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.