Goldman Sachs Group Inc. Sells 603,380 Shares of 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 holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 approximately 0.66% of Kimco Realty worth $95,534,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Kimco Realty by 14.7% during the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock worth $423,441,000 after buying an additional 2,552,276 shares during the last quarter. Northern Trust Corp raised its holdings in Kimco Realty by 2.8% during the first quarter. Northern Trust Corp now owns 10,590,796 shares of the real estate investment trust's stock worth $224,949,000 after buying an additional 285,824 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Kimco Realty by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,718,796 shares of the real estate investment trust's stock worth $206,427,000 after buying an additional 137,249 shares during the last quarter. Amundi raised its holdings in Kimco Realty by 54.2% during the first quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock worth $186,646,000 after buying an additional 3,253,031 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in Kimco Realty by 8.9% during the first quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock worth $191,170,000 after buying an additional 733,514 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Stock Performance

KIM traded up $0.23 during trading on Thursday, hitting $22.18. 2,646,094 shares of the company traded hands, compared to its average volume of 3,428,353. The firm has a market cap of $15.02 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32. The stock's fifty day moving average is $21.82 and its 200 day moving average is $21.16. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83.

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 for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $525.18 million during 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 firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. As a group, equities analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, September 5th. Kimco Realty's dividend payout ratio (DPR) is currently 120.48%.

Analyst Ratings Changes

KIM has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research note on Monday, September 8th. Barclays upped their target price on shares of Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Mizuho upped their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Piper Sandler reduced their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Kimco Realty has a consensus rating of "Moderate Buy" and an average price target of $24.85.

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.