Kimco Realty Corporation $KIM Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its Kimco Realty stake by 2.6%, selling 102,133 shares and retaining 3.87 million shares valued at approximately $86.1 million. Institutional investors collectively own 89.25% of the company.
• Kimco Realty reported quarterly EPS of $0.47, slightly above the $0.46 analyst consensus, while revenue rose 3.9% year over year to $546.15 million. The company declared a quarterly dividend of $0.28 per share, representing a 4.5% yield.
• Analysts maintain a consensus “Moderate Buy” rating with a $25.88 target price, while shares recently opened at $25.09 and traded within a 12-month range of $19.76 to $26.65.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,874,671 shares of the real estate investment trust's stock after selling 102,133 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.58% of Kimco Realty worth $86,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Kimco Realty in the third quarter valued at approximately $4,342,000. Profund Advisors LLC boosted its position in Kimco Realty by 41.3% in the 3rd quarter. Profund Advisors LLC now owns 12,470 shares of the real estate investment trust's stock valued at $277,000 after buying an additional 3,647 shares during the last quarter. ProShare Advisors LLC boosted its position in Kimco Realty by 7.3% in the 3rd quarter. ProShare Advisors LLC now owns 195,397 shares of the real estate investment trust's stock valued at $4,340,000 after buying an additional 13,346 shares during the last quarter. MGO One Seven LLC increased its stake in shares of Kimco Realty by 4.9% in the 3rd quarter. MGO One Seven LLC now owns 11,018 shares of the real estate investment trust's stock valued at $245,000 after buying an additional 511 shares during the period. Finally, Raleigh Capital Management Inc. raised its position in shares of Kimco Realty by 2.9% during the third quarter. Raleigh Capital Management Inc. now owns 60,079 shares of the real estate investment trust's stock worth $1,334,000 after acquiring an additional 1,721 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Stock Performance

KIM stock opened at $25.09 on Tuesday. The business's fifty day moving average is $23.08 and its 200-day moving average is $23.53. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.84. The company has a market cap of $16.83 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 2.67 and a beta of 0.94. Kimco Realty Corporation has a twelve month low of $19.76 and a twelve month high of $26.65.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Kimco Realty had a return on equity of 5.76% and a net margin of 27.76%. The business had revenue of $546.15 million during the quarter, compared to analysts' expectations of $549.06 million. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Kimco Realty Corporation will post 1.85 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, December 4th. Kimco Realty's payout ratio is presently 104.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered Kimco Realty from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Wells Fargo & Company lowered their price objective on Kimco Realty from $26.00 to $23.00 and set an "equal weight" rating for the company in a research report on Friday, October 23rd. Citigroup boosted their price objective on Kimco Realty from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Truist Financial began coverage on shares of Kimco Realty in a research report on Thursday, October 1st. They set a "hold" rating and a $24.00 target price on the stock. Finally, Mizuho cut their target price on shares of Kimco Realty from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Kimco Realty currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.88.

Kimco Realty Profile

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company's portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.

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