Kimco Realty Corporation $KIM Shares Sold by Adelante Capital Management LLC

Key Points

• Adelante Capital Management LLC reduced its stake in Kimco Realty Corporation by 6.6%, now holding approximately 2.16 million shares, which constitutes about 3.2% of its investment portfolio.
• Several institutional investors have adjusted their positions in Kimco Realty, with Squarepoint Ops LLC increasing its stake by 40.9% and new stakes from D.A. Davidson & CO. and Woodline Partners LP.
• Kimco Realty reported a quarterly earnings per share of $0.44, surpassing expectations, and announced a quarterly dividend of $0.25 with a yield of 4.4%.

Adelante Capital Management LLC trimmed its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,163,571 shares of the real estate investment trust's stock after selling 153,760 shares during the period. Kimco Realty accounts for 3.2% of Adelante Capital Management LLC's portfolio, making the stock its 11th largest holding. Adelante Capital Management LLC owned approximately 0.32% of Kimco Realty worth $45,954,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC grew its position in shares of Kimco Realty by 40.9% during the fourth quarter. Squarepoint Ops LLC now owns 383,862 shares of the real estate investment trust's stock valued at $8,994,000 after purchasing an additional 111,496 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Kimco Realty during the 1st quarter valued at approximately $209,000. Woodline Partners LP bought a new stake in Kimco Realty in the 4th quarter worth approximately $9,057,000. Concurrent Investment Advisors LLC increased its stake in Kimco Realty by 45.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 40,559 shares of the real estate investment trust's stock worth $861,000 after acquiring an additional 12,700 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Kimco Realty by 4.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,524 shares of the real estate investment trust's stock worth $2,167,000 after acquiring an additional 4,051 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Performance

Shares of Kimco Realty stock traded down $0.06 during midday trading on Wednesday, hitting $22.31. The company had a trading volume of 3,298,408 shares, compared to its average volume of 3,371,049. The company has a fifty day simple moving average of $21.71 and a 200 day simple moving average of $21.15. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.62 and a beta of 1.32. 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 12-month low of $17.93 and a 12-month 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, beating analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $525.18 million for 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%. Kimco Realty's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. As a group, analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. Kimco Realty's payout ratio is currently 120.48%.

Analysts Set New Price Targets

KIM has been the subject of a number of recent research reports. Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. LADENBURG THALM/SH SH initiated coverage on shares of Kimco Realty in a research report on Tuesday. They set a "buy" rating and a $27.00 price objective for the company. Barclays lifted their price target on Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 27th. Evercore ISI boosted their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Monday. Finally, Piper Sandler reduced their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Kimco Realty currently has an average rating of "Moderate Buy" and a consensus price target of $24.68.

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.