New Capital Management LP Trims Position in Kimco Realty Corporation $KIM

Key Points

• New Capital Management LP reduced its stake in Kimco Realty Corporation by 25.8%, selling 15,066 shares, leaving them with 43,254 shares valued at $909,000.
• Kimco Realty announced a quarterly dividend of $0.25 per share, with a dividend yield of 4.5% and an annualized payout ratio of 120.48%.
• The company's stock has experienced a 0.2% decline, with a current price of $22.41, and a twelve-month trading range between $17.93 and $25.83.

New Capital Management LP decreased its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 25.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,254 shares of the real estate investment trust's stock after selling 15,066 shares during the period. New Capital Management LP's holdings in Kimco Realty were worth $909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Amundi lifted its holdings in shares of Kimco Realty by 54.2% in the first quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock worth $186,646,000 after acquiring an additional 3,253,031 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Kimco Realty by 14.7% in the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock worth $423,441,000 after acquiring an additional 2,552,276 shares during the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Kimco Realty by 8.9% in the first quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock worth $191,170,000 after acquiring an additional 733,514 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Kimco Realty by 3,689.2% in the first quarter. SG Americas Securities LLC now owns 709,410 shares of the real estate investment trust's stock worth $15,068,000 after acquiring an additional 690,688 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kimco Realty by 105.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,259,781 shares of the real estate investment trust's stock worth $26,758,000 after acquiring an additional 648,021 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Wall Street Analysts Forecast Growth

KIM has been the subject of a number of research reports. Evercore ISI increased their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a report on Monday, September 8th. Barclays raised their price target on shares of Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. LADENBURG THALM/SH SH initiated coverage on shares of Kimco Realty in a research report on Tuesday, September 9th. They set a "buy" rating and a $27.00 price objective for the company. Piper Sandler reduced their price objective on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.85.

Kimco Realty Stock Performance

Shares of NYSE KIM traded down $0.17 during mid-day trading on Friday, reaching $22.01. 2,117,366 shares of the company's stock were exchanged, compared to its average volume of 4,673,043. The firm has a market capitalization of $14.90 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. The firm has a 50-day moving average price of $21.82 and a two-hundred day moving average price of $21.16.

Kimco Realty (NYSE:KIM - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.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 business posted $0.41 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

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