Pacer Advisors Inc. Sells 21,761 Shares of Kimco Realty Corporation (NYSE:KIM)

Key Points

• Pacer Advisors Inc. has reduced its holdings in Kimco Realty Corporation by 38.7%, selling 21,761 shares and now owning 34,537 shares valued at $734,000.
• Kimco Realty announced a quarterly dividend of $0.25, representing a 4.8% yield, with the ex-dividend date set for September 5th.
• The company's earnings for the last quarter surpassed analysts' expectations, reporting $0.44 EPS on revenues of $525.18 million, marking a 5.0% year-over-year increase in revenue.

Pacer Advisors Inc. lowered its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 38.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,537 shares of the real estate investment trust's stock after selling 21,761 shares during the quarter. Pacer Advisors Inc.'s holdings in Kimco Realty were worth $734,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. increased its holdings in shares of Kimco Realty by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 12,767 shares of the real estate investment trust's stock worth $271,000 after purchasing an additional 517 shares during the period. Global Assets Advisory LLC grew its position in Kimco Realty by 5.4% during the fourth quarter. Global Assets Advisory LLC now owns 10,363 shares of the real estate investment trust's stock worth $238,000 after buying an additional 528 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Kimco Realty by 0.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 58,335 shares of the real estate investment trust's stock valued at $1,239,000 after acquiring an additional 530 shares during the period. Pitcairn Co. raised its holdings in Kimco Realty by 4.0% in the 4th quarter. Pitcairn Co. now owns 14,568 shares of the real estate investment trust's stock valued at $341,000 after acquiring an additional 567 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Kimco Realty by 78.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 575 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KIM shares. Raymond James Financial lowered their price objective on 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. 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 target price on the stock. Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday. Piper Sandler cut their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Scotiabank lowered their price objective on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

Kimco Realty Trading Up 1.5%

KIM stock traded up $0.31 during trading on Monday, hitting $21.05. The company had a trading volume of 2,643,286 shares, compared to its average volume of 4,883,118. The firm has a 50-day moving average price of $21.26 and a 200-day moving average price of $21.22. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83. The company has a quick ratio of 3.47, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.51 and a beta of 1.31.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

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 paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 4.8%. Kimco Realty's dividend payout ratio is presently 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.