Old Port Advisors Decreases Holdings in Kimco Realty Corporation $KIM

Key Points

• Old Port Advisors has reduced its holdings in Kimco Realty Corporation (NYSE:KIM) by 22.1%, now owning 88,244 shares valued at approximately $1,855,000.
• Kimco Realty recently announced a quarterly dividend of $0.25, amounting to an annualized yield of 4.6%, despite a high dividend payout ratio of 120.48%.
• Analysts have a consensus rating of "Moderate Buy" for Kimco Realty, with a price target averaging $24.85, reflecting positive sentiment among several research reports.

Old Port Advisors trimmed its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 22.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,244 shares of the real estate investment trust's stock after selling 25,080 shares during the period. Old Port Advisors' holdings in Kimco Realty were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of KIM. D.A. Davidson & CO. purchased a new position in Kimco Realty in the 1st quarter worth approximately $209,000. Concurrent Investment Advisors LLC boosted its holdings in Kimco Realty by 45.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 40,559 shares of the real estate investment trust's stock worth $861,000 after acquiring an additional 12,700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Kimco Realty by 4.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,524 shares of the real estate investment trust's stock valued at $2,167,000 after purchasing an additional 4,051 shares during the period. Jump Financial LLC purchased a new position in shares of Kimco Realty in the first quarter valued at $261,000. Finally, Vert Asset Management LLC boosted its stake in shares of Kimco Realty by 6.0% in the first quarter. Vert Asset Management LLC now owns 315,773 shares of the real estate investment trust's stock valued at $6,707,000 after purchasing an additional 17,966 shares during the period. Hedge funds and other institutional investors own 89.25% of the company's stock.

Kimco Realty Trading Up 0.5%

NYSE:KIM opened at $21.58 on Friday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. The business's 50 day moving average is $21.84 and its two-hundred day moving average is $21.18. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83. The company has a market cap of $14.61 billion, a PE ratio of 26.00, a P/E/G ratio of 1.56 and a beta of 1.32.

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 the consensus estimate of $524.75 million. During the same quarter last year, the business posted $0.41 EPS. Kimco Realty's quarterly revenue 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. On average, analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, September 5th. Kimco Realty's dividend payout ratio (DPR) is presently 120.48%.

Wall Street Analysts Forecast Growth

KIM has been the subject of a number of analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Kimco Realty in a research report on Tuesday, September 9th. They issued a "buy" rating and a $27.00 price objective for the company. Piper Sandler reduced their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Barclays increased their price target on Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Mizuho increased their target price on Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Finally, Evercore ISI raised their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Kimco Realty has a consensus rating of "Moderate Buy" and a consensus target price of $24.85.

Kimco Realty Company 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.

Want to see what other hedge funds are holding KIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimco Realty Corporation (NYSE:KIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.