Generate Investment Management Ltd Trims Position in Kimco Realty Corporation (NYSE:KIM)

Generate Investment Management Ltd lowered its holdings in Kimco Realty Corporation (NYSE:KIM - Free Report) by 42.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 390,981 shares of the real estate investment trust's stock after selling 287,699 shares during the quarter. Generate Investment Management Ltd owned about 0.06% of Kimco Realty worth $8,304,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in KIM. Summit Securities Group LLC acquired a new position in shares of Kimco Realty in the 4th quarter valued at $26,000. Golden State Wealth Management LLC increased its stake in Kimco Realty by 177.6% in the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 911 shares during the period. Brown Brothers Harriman & Co. increased its stake in Kimco Realty by 78.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 575 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Kimco Realty in the fourth quarter valued at about $45,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Kimco Realty during the first quarter worth about $45,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KIM has been the subject of several analyst reports. Raymond James Financial reduced their price objective on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Monday, May 5th. Citigroup decreased their price target on Kimco Realty from $27.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Scotiabank dropped their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler cut their price objective on shares of Kimco Realty from $29.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Wells Fargo & Company lowered their target price on shares of Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Ten equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.68.

Kimco Realty Price Performance

Shares of KIM traded up $0.21 on Thursday, reaching $21.04. The stock had a trading volume of 3,895,690 shares, compared to its average volume of 4,495,657. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $25.83. The firm has a market capitalization of $14.23 billion, a PE ratio of 27.32, a PEG ratio of 1.44 and a beta of 1.27. The firm has a 50-day moving average of $20.88 and a 200 day moving average of $21.58. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 0.75.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $536.62 million for the quarter, compared to analyst estimates of $520.68 million. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. Kimco Realty's revenue was up 965.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. Sell-side analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, June 6th. Kimco Realty's dividend payout ratio (DPR) is presently 129.87%.

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.