Sequoia Financial Advisors LLC Purchases New Stake in Kimco Realty Corporation $KIM

Key Points

• Sequoia Financial Advisors LLC acquired a new stake in Kimco Realty, purchasing 33,373 shares valued at approximately $702,000 during the 2nd quarter.
• Institutional investors hold approximately 89.25% of Kimco Realty's stock, indicating strong interest from financial entities.
• Kimco Realty's recent quarterly earnings surpassed analysts' expectations, reporting $0.44 EPS compared to the consensus estimate of $0.43.

Sequoia Financial Advisors LLC purchased a new stake in Kimco Realty Corporation (NYSE:KIM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 33,373 shares of the real estate investment trust's stock, valued at approximately $702,000.

Several other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in 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 valued at $423,441,000 after acquiring an additional 2,552,276 shares during the last quarter. Northern Trust Corp boosted its holdings in Kimco Realty by 2.8% in the first quarter. Northern Trust Corp now owns 10,590,796 shares of the real estate investment trust's stock valued at $224,949,000 after acquiring an additional 285,824 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Kimco Realty by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,718,796 shares of the real estate investment trust's stock valued at $206,427,000 after acquiring an additional 137,249 shares during the last quarter. Amundi boosted its holdings in Kimco Realty by 54.2% in the first quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock valued at $186,646,000 after acquiring an additional 3,253,031 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in 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 valued at $191,170,000 after acquiring an additional 733,514 shares during the last quarter. Institutional investors own 89.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KIM. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Mizuho raised their target price on Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Barclays raised their target price on Kimco Realty from $26.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Evercore ISI raised their target price on Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a report on Monday, September 8th. Finally, LADENBURG THALM/SH SH started coverage on Kimco Realty in a report on Tuesday, September 9th. They set a "buy" rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $24.92.

Kimco Realty Price Performance

Shares of KIM opened at $21.87 on Friday. The stock has a market cap of $14.81 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 1.59 and a beta of 1.30. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. The stock's 50-day moving average price is $21.82 and its two-hundred day moving average price is $21.23. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last released 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 company 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%.Kimco Realty's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, equities analysts predict that Kimco Realty Corporation will post 1.71 earnings per share 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 dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.6%. Kimco Realty's dividend payout ratio (DPR) is currently 120.48%.

Insider Activity at Kimco Realty

In other news, Director Mary Hogan Preusse sold 23,100 shares of the firm's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $21.66, for a total transaction of $500,346.00. Following the sale, the director owned 40,260 shares of the company's stock, valued at $872,031.60. This trade represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

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.