Jefferies Financial Group Inc. Decreases Stake 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% in the first quarter, according to its most recent disclosure with the 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 about 0.06% of Kimco Realty worth $9,264,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. US Bancorp DE increased its stake in Kimco Realty by 0.8% in the 1st quarter. US Bancorp DE now owns 121,102 shares of the real estate investment trust's stock valued at $2,572,000 after buying an additional 911 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of Kimco Realty during the 1st quarter valued at approximately $719,000. Vestcor Inc lifted its stake in Kimco Realty by 1,107.3% during the first quarter. Vestcor Inc now owns 172,288 shares of the real estate investment trust's stock worth $3,659,000 after purchasing an additional 158,018 shares during the last quarter. Meeder Advisory Services Inc. increased its position in 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 buying an additional 653 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Kimco Realty by 11.8% during the first quarter. Mackenzie Financial Corp now owns 72,596 shares of the real estate investment trust's stock valued at $1,542,000 after purchasing an additional 7,689 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

KIM stock traded up $0.20 during trading on Tuesday, reaching $21.25. The stock had a trading volume of 1,651,769 shares, compared to its average volume of 4,874,609. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83. The stock's 50 day moving average is $21.26 and its two-hundred day moving average is $21.22. The company has a current ratio of 3.92, a quick ratio of 3.47 and a debt-to-equity ratio of 0.76. The firm has a market cap of $14.37 billion, a PE ratio of 25.58, a PEG ratio of 1.51 and a beta of 1.31.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $525.18 million during 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%. The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. As a group, equities analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.7%. Kimco Realty's dividend payout ratio is currently 120.48%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KIM. Scotiabank dropped their target price on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler lowered their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Monday. Raymond James Financial reduced their price target on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Monday, May 5th. Finally, Barclays initiated coverage on shares of Kimco Realty in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 price target for the company. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.