Rafferty Asset Management LLC Sells 14,620 Shares of Kimco Realty Corporation $KIM

Key Points

• Rafferty Asset Management LLC reduced its holdings in Kimco Realty Corporation by 16.5% during the first quarter, selling 14,620 shares and bringing their total ownership to 74,084 shares valued at $1,574,000.
• Kimco Realty reported a quarterly earnings per share (EPS) of $0.44, surpassing analysts' expectations, with a revenue increase of 5.0% year-over-year, totaling $525.18 million.
• The firm announced a quarterly dividend of $0.25 per share, providing a yield of 4.4%, with the dividend payout ratio currently at 120.48%.

Rafferty Asset Management LLC decreased its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 16.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,084 shares of the real estate investment trust's stock after selling 14,620 shares during the period. Rafferty Asset Management LLC's holdings in Kimco Realty were worth $1,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KIM. Stifel Financial Corp lifted its stake in Kimco Realty by 3.7% in the fourth quarter. Stifel Financial Corp now owns 74,776 shares of the real estate investment trust's stock valued at $1,752,000 after acquiring an additional 2,659 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Kimco Realty during the 4th quarter valued at $546,000. Lido Advisors LLC bought a new position in shares of Kimco Realty during the 4th quarter valued at $391,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of Kimco Realty by 248.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 93,802 shares of the real estate investment trust's stock valued at $2,198,000 after purchasing an additional 66,918 shares in the last quarter. Finally, AXA S.A. raised its holdings in shares of Kimco Realty by 3.0% during the 4th quarter. AXA S.A. now owns 886,340 shares of the real estate investment trust's stock valued at $20,767,000 after purchasing an additional 25,411 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on KIM shares. Piper Sandler cut their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Barclays raised their price target on shares of Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Mizuho lifted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Kimco Realty has a consensus rating of "Moderate Buy" and an average price target of $24.75.

Kimco Realty Price Performance

NYSE:KIM traded down $0.04 on Friday, reaching $22.76. The stock had a trading volume of 3,581,800 shares, compared to its average volume of 3,267,493. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $25.83. The company has a market capitalization of $15.41 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 1.65 and a beta of 1.32. 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 stock has a fifty day moving average price of $21.64 and a 200-day moving average price of $21.13.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business had revenue of $525.18 million during the quarter, compared to the consensus estimate of $524.75 million. During the same period in the previous year, the firm posted $0.41 earnings per share. Kimco Realty'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. Research analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The company also recently declared 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 is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. Kimco Realty's dividend payout ratio (DPR) is currently 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.