New Capital Management LP Sells 15,066 Shares of 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 lessened its holdings in Kimco Realty Corporation (NYSE:KIM - Free Report) by 25.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of KIM. AlphaQuest LLC purchased a new position in shares of Kimco Realty in the 1st quarter worth $29,000. Keystone Global Partners LLC bought a new position in shares of Kimco Realty in the 1st quarter valued at about $30,000. Golden State Wealth Management LLC grew its position 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 worth $30,000 after acquiring an additional 911 shares in the last quarter. WASHINGTON TRUST Co purchased a new position in Kimco Realty in the first quarter worth about $34,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Kimco Realty during the first quarter worth approximately $38,000. Institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Down 0.2%

NYSE:KIM opened at $22.41 on Friday. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $25.83. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. The stock has a fifty day simple moving average of $21.74 and a 200-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 (NYSE:KIM - Get Free Report) last posted its quarterly 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. The firm had revenue of $525.18 million for the quarter, compared to analysts' expectations of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. During the same period in the prior year, the business posted $0.41 earnings per share. The business's revenue for the quarter was up 5.0% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. Kimco Realty's dividend payout ratio (DPR) is 120.48%.

Analyst Upgrades and Downgrades

KIM has been the subject of several analyst reports. Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a research note on Monday, September 8th. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Mizuho lifted their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Piper Sandler reduced their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, LADENBURG THALM/SH SH started coverage on shares of Kimco Realty in a research note on Tuesday, September 9th. They set a "buy" rating and a $27.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.85.

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.

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