Jefferies Financial Group Inc. Trims Stock Position in Kimco Realty Corporation (NYSE:KIM)

Key Points

• Jefferies Financial Group Inc. reduced its stake in Kimco Realty Corporation by 36.6%, selling 251,346 shares and retaining 436,173 shares valued at approximately $9.26 million.
• Several institutional investors have increased their holdings in Kimco Realty, with LPL Financial LLC boosting its stake by 23.6% and Brown Brothers Harriman & Co. increasing by 78.9% during the fourth quarter.
• Analysts have recently updated their price targets for Kimco Realty, with Piper Sandler lowering its target to $28.00 and Barclays setting a target of $25.00 while maintaining an "overweight" rating.

Jefferies Financial Group Inc. cut its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 36.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 436,173 shares of the real estate investment trust's stock after selling 251,346 shares during the period. Jefferies Financial Group Inc. owned 0.06% of Kimco Realty worth $9,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KIM. Golden State Wealth Management LLC grew its stake in shares of Kimco Realty by 177.6% during the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 911 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Kimco Realty by 78.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 575 shares in the last quarter. WASHINGTON TRUST Co bought a new position in Kimco Realty in the first quarter worth approximately $34,000. Olde Wealth Management LLC bought a new position in Kimco Realty in the first quarter worth approximately $41,000. Finally, Headlands Technologies LLC bought a new position in Kimco Realty in the fourth quarter worth approximately $45,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

KIM stock traded up $0.31 during trading on Monday, hitting $21.05. The stock had a trading volume of 4,626,343 shares, compared to its average volume of 4,896,685. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.47. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $25.83. The stock has a market capitalization of $14.24 billion, a P/E ratio of 25.36, a PEG ratio of 1.51 and a beta of 1.31. The company's 50-day moving average price is $21.26 and its two-hundred day moving average price is $21.22.

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

Kimco Realty Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's dividend payout ratio (DPR) is 120.48%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KIM. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday. Scotiabank reduced their target price on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Raymond James Financial reduced their target price on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Monday, May 5th. 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 for the company. Finally, Piper Sandler cut their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.57.

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.