Goldman Sachs Group Inc. Has $95.53 Million Stake in Kimco Realty Corporation $KIM

Key Points

• Goldman Sachs Group Inc. reduced its stake in Kimco Realty Corporation by 11.8% during the first quarter, holding 4,497,839 shares valued at approximately $95.53 million.
• Several hedge funds increased their positions in Kimco Realty, with AlphaQuest LLC and others acquiring new stakes, indicating growing interest among institutional investors.
• Analyst ratings for Kimco Realty have varied, with some lowering their target prices while others remain optimistic, leading to an overall consensus rating of "Moderate Buy" with an average price target of $24.85.

Goldman Sachs Group Inc. decreased its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 11.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,497,839 shares of the real estate investment trust's stock after selling 603,380 shares during the period. Goldman Sachs Group Inc. owned 0.66% of Kimco Realty worth $95,534,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in KIM. AlphaQuest LLC acquired a new position in shares of Kimco Realty during the 1st quarter valued at about $29,000. Golden State Wealth Management LLC increased its holdings in shares of Kimco Realty by 177.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 911 shares during the last quarter. Keystone Global Partners LLC acquired a new position in shares of Kimco Realty during the 1st quarter valued at about $30,000. WASHINGTON TRUST Co acquired a new position in shares of Kimco Realty during the 1st quarter valued at about $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Kimco Realty during the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 89.25% of the company's stock.

Analyst Ratings Changes

KIM has been the topic of a number of research analyst reports. Piper Sandler lowered their target price on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Barclays raised their target price on Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Mizuho raised their target price on Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH initiated coverage on Kimco Realty in a report on Tuesday. They issued a "buy" rating and a $27.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.85.

Kimco Realty Stock Performance

KIM opened at $22.41 on Friday. The stock has a market cap of $15.17 billion, a PE ratio of 26.99, a P/E/G 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 stock's 50 day simple moving average is $21.74 and its 200-day simple moving average is $21.16.

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

Kimco Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given 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 payout ratio is currently 120.48%.

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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