Linscomb Wealth Inc. Has $853,000 Stock Holdings in Kimco Realty Corporation (NYSE:KIM)

Key Points

• Linscomb Wealth Inc. has increased its stake in Kimco Realty Corporation by 47.0%, now owning 40,163 shares valued at $853,000.
• Kimco Realty recently reported quarterly earnings of $0.44 per share, exceeding analysts' expectations and demonstrating a 5.0% increase in revenue year-over-year.
• The firm announced a quarterly dividend of $0.25 per share, translating to a 4.8% dividend yield amid a payout ratio of 120.48%.

Linscomb Wealth Inc. boosted its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 47.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,163 shares of the real estate investment trust's stock after buying an additional 12,847 shares during the period. Linscomb Wealth Inc.'s holdings in Kimco Realty were worth $853,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of KIM. Golden State Wealth Management LLC lifted its holdings in Kimco Realty by 177.6% in 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 during the last quarter. WASHINGTON TRUST Co bought a new stake in Kimco Realty during the 1st quarter worth about $34,000. Olde Wealth Management LLC bought a new position in shares of Kimco Realty in the 1st quarter valued at about $41,000. Sentry Investment Management LLC bought a new position in Kimco Realty during the 1st quarter worth approximately $45,000. Finally, Menard Financial Group LLC bought a new position in shares of Kimco Realty during the 4th quarter valued at about $90,000. Institutional investors own 89.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler cut their price objective on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Scotiabank cut their target price on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Barclays started coverage on shares of Kimco Realty in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price on the stock. Finally, Raymond James Financial dropped their price target on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Monday, May 5th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Kimco Realty presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.57.

Kimco Realty Trading Down 1.7%

Kimco Realty stock traded down $0.37 during midday trading on Thursday, reaching $21.16. 3,786,781 shares of the stock traded hands, compared to its average volume of 4,861,562. The company has a 50-day simple moving average of $21.28 and a two-hundred day simple moving average of $21.15. The company has a current ratio of 3.92, a quick 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. The firm has a market cap of $14.33 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.31.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The company had revenue of $525.18 million for the quarter, compared to analysts' expectations of $524.75 million. During the same period in the previous year, the company posted $0.41 EPS. Kimco Realty's revenue was up 5.0% compared to the same quarter last year. Research analysts expect 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. Stockholders of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, September 5th. Kimco Realty's 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.