National Pension Service Sells 1,051,564 Shares of Kimco Realty Corporation $KIM

Key Points

• National Pension Service significantly reduced its holdings in Kimco Realty Corporation by 97.5% during the first quarter, selling over 1 million shares and ending with 26,698 shares valued at approximately $567,000.
• Kimco Realty reported $0.44 earnings per share for the last quarter, slightly exceeding analysts' estimates, with a 5.0% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.25 per share, resulting in a 4.7% yield and a dividend payout ratio of 120.48%.

National Pension Service lessened its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 97.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,698 shares of the real estate investment trust's stock after selling 1,051,564 shares during the period. National Pension Service's holdings in Kimco Realty were worth $567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KIM. Golden State Wealth Management LLC grew its position in shares of Kimco Realty by 177.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 911 shares in the last quarter. WASHINGTON TRUST Co acquired a new position in shares of Kimco Realty during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of Kimco Realty during the 1st quarter worth approximately $38,000. Olde Wealth Management LLC acquired a new position in shares of Kimco Realty during the 1st quarter worth approximately $41,000. Finally, Sentry Investment Management LLC acquired a new position in shares of Kimco Realty during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 89.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KIM. Scotiabank decreased their target price on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. 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. Piper Sandler reduced their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Mizuho increased their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Barclays initiated 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. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.63.

Kimco Realty Price Performance

Kimco Realty stock traded down $0.0750 during mid-day trading on Thursday, reaching $21.5550. The company had a trading volume of 778,129 shares, compared to its average volume of 4,804,688. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. The company has a market cap of $14.60 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.58 and a beta of 1.31. The business has a fifty day simple moving average of $21.31 and a 200 day simple moving average of $21.12.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its earnings results 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. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. During the same quarter last year, the business posted $0.41 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, equities research analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.6%. Kimco Realty's dividend payout ratio (DPR) is currently 120.48%.

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.