BI Asset Management Fondsmaeglerselskab A S Trims Stake in Kimco Realty Corporation $KIM

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Kimco Realty Corporation by 34.3%, now holding 38,780 shares, valued at approximately $824,000.
• Other institutional investors have increased their positions, with Northern Trust Corp boosting its holdings by 55.0% during the last quarter.
• Kimco Realty will pay a $0.25 quarterly dividend on September 19, representing an annualized yield of 4.5%, despite a high dividend payout ratio of 120.48%.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 34.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,780 shares of the real estate investment trust's stock after selling 20,221 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Kimco Realty were worth $824,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KIM. GF Fund Management CO. LTD. increased its position in shares of Kimco Realty by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 12,767 shares of the real estate investment trust's stock valued at $271,000 after acquiring an additional 517 shares during the period. Global Assets Advisory LLC increased its position in shares of Kimco Realty by 5.4% in the fourth quarter. Global Assets Advisory LLC now owns 10,363 shares of the real estate investment trust's stock valued at $238,000 after acquiring an additional 528 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Kimco Realty by 0.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 58,335 shares of the real estate investment trust's stock valued at $1,239,000 after acquiring an additional 530 shares during the period. Horizon Investments LLC increased its position in shares of Kimco Realty by 6.4% in the first quarter. Horizon Investments LLC now owns 9,926 shares of the real estate investment trust's stock valued at $211,000 after acquiring an additional 600 shares during the period. Finally, Naviter Wealth LLC increased its position in shares of Kimco Realty by 1.4% in the first quarter. Naviter Wealth LLC now owns 46,155 shares of the real estate investment trust's stock valued at $966,000 after acquiring an additional 640 shares during the period. 89.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho boosted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Raymond James Financial reduced their price target on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Monday, May 5th. Barclays assumed coverage on shares of Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price target on the stock. Finally, Piper Sandler cut their price objective on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.63.

Kimco Realty Stock Up 0.0%

Shares of NYSE KIM traded up $0.0060 during midday trading on Monday, hitting $22.2060. The stock had a trading volume of 2,752,608 shares, compared to its average volume of 4,340,157. The company has a market cap of $15.04 billion, a P/E ratio of 26.75, a PEG ratio of 1.61 and a beta of 1.31. The business's 50 day moving average is $21.37 and its 200-day moving average is $21.09. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83. 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 (NYSE:KIM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm'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 firm earned $0.41 earnings per share. 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 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. Kimco Realty's dividend payout ratio is 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.