Kimco Realty Corporation $KIM Shares Sold by Kettle Hill Capital Management LLC

Key Points

• Kettle Hill Capital Management LLC reduced its stake in Kimco Realty by 31.8%, making the company its 6th largest position with 961,084 shares owned.
• Wall Street analysts have upgraded Kimco Realty’s rating to "hold", with a consensus price target of $24.75.
• Kimco Realty declared a quarterly dividend of $0.25 per share, which represents a dividend yield of 4.4% and will be paid on September 19th.

Kettle Hill Capital Management LLC cut its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 31.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 961,084 shares of the real estate investment trust's stock after selling 448,727 shares during the period. Kimco Realty makes up 5.6% of Kettle Hill Capital Management LLC's investment portfolio, making the stock its 6th largest position. Kettle Hill Capital Management LLC owned about 0.14% of Kimco Realty worth $20,413,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Amundi raised its holdings in Kimco Realty by 54.2% in the first quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock valued at $186,646,000 after buying an additional 3,253,031 shares during the period. Invesco Ltd. raised its holdings in Kimco Realty by 14.7% in the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock valued at $423,441,000 after buying an additional 2,552,276 shares during the period. Deutsche Bank AG raised its holdings in Kimco Realty by 94.7% in the fourth quarter. Deutsche Bank AG now owns 4,177,662 shares of the real estate investment trust's stock valued at $97,883,000 after buying an additional 2,031,722 shares during the period. Resolution Capital Ltd raised its holdings in Kimco Realty by 13.7% in the fourth 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. Finally, Centersquare Investment Management LLC raised its holdings in Kimco Realty by 8.9% in the first 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.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KIM. Mizuho lifted their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Barclays lifted their price objective on shares of Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. Piper Sandler dropped their price objective 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. 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 equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Kimco Realty has a consensus rating of "Moderate Buy" and a consensus price target of $24.75.

Kimco Realty Stock Down 0.2%

Shares of NYSE:KIM traded down $0.04 during midday trading on Friday, reaching $22.76. The company had a trading volume of 3,581,800 shares, compared to its average volume of 3,272,083. 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 stock's fifty day moving average price is $21.64 and its 200-day moving average price is $21.12. The stock has a market capitalization of $15.41 billion, a P/E ratio of 27.42, a PEG ratio of 1.65 and a beta of 1.32. 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 issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (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 analyst estimates of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Equities research analysts expect that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's payout ratio is currently 120.48%.

Kimco Realty 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.