KLP Kapitalforvaltning AS Reduces Holdings in Kimco Realty Corporation $KIM

KLP Kapitalforvaltning AS decreased its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 0.5% during the second quarter, Holdings Channel.com reports. The fund owned 625,000 shares of the real estate investment trust’s stock after selling 3,100 shares during the period. KLP Kapitalforvaltning AS’s holdings in Kimco Realty were worth $13,138,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Gratus Wealth Advisors LLC purchased a new stake in shares of Kimco Realty during the second quarter worth about $545,000. OLD National Bancorp IN purchased a new stake in shares of Kimco Realty during the second quarter worth about $4,851,000. 111 Capital purchased a new stake in shares of Kimco Realty during the second quarter worth about $738,000. Vanderbilt University purchased a new stake in shares of Kimco Realty during the second quarter worth about $969,000. Finally, Hilltop National Bank purchased a new stake in shares of Kimco Realty during the second quarter worth about $1,389,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Down 0.4%

Kimco Realty stock opened at $21.29 on Thursday. 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 Corporation has a 12 month low of $17.93 and a 12 month high of $25.83. The stock’s 50 day simple moving average is $21.78 and its two-hundred day simple moving average is $21.22. The firm has a market cap of $14.42 billion, a PE ratio of 25.65, a P/E/G ratio of 1.55 and a beta of 1.30.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The business had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The business’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. Analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, September 5th. Kimco Realty’s dividend payout ratio is currently 120.48%.

Analysts Set New Price Targets

KIM has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 8th. Piper Sandler dropped their target price on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Mizuho upped their target price on Kimco Realty from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. LADENBURG THALM/SH SH assumed coverage on Kimco Realty in a research report on Tuesday, September 9th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kimco Realty in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.92.

Insider Buying and Selling at Kimco Realty

In other news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $21.66, for a total transaction of $500,346.00. Following the completion of the transaction, the director directly owned 40,260 shares of the company’s stock, valued at $872,031.60. This represents a 36.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by insiders.

About Kimco Realty

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.