Kimco Realty Corporation $KIM Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 38.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,539 shares of the real estate investment trust’s stock after selling 28,720 shares during the period. Texas Permanent School Fund Corp’s holdings in Kimco Realty were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KIM. Jump Financial LLC bought a new position in shares of Kimco Realty in the first quarter worth $261,000. EP Wealth Advisors LLC acquired a new stake in Kimco Realty in the first quarter worth about $211,000. Arrowstreet Capital Limited Partnership bought a new position in Kimco Realty in the 2nd quarter valued at about $13,358,000. D.A. Davidson & CO. increased its stake in Kimco Realty by 71.0% during the 2nd quarter. D.A. Davidson & CO. now owns 16,810 shares of the real estate investment trust’s stock valued at $353,000 after buying an additional 6,982 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Kimco Realty during the 2nd quarter valued at about $332,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Price Performance

NYSE KIM opened at $20.45 on Thursday. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $23.73. The business’s fifty day moving average is $20.67 and its two-hundred day moving average is $21.26. The stock has a market capitalization of $13.85 billion, a P/E ratio of 24.63, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.59 and a current ratio of 3.59.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $535.86 million for the quarter, compared to analysts’ expectations of $522.31 million. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. On average, research analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.25. Kimco Realty’s dividend payout ratio (DPR) is 125.30%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on KIM shares. Evercore ISI upped 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 note on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kimco Realty in a research note on Wednesday, October 8th. Wall Street Zen raised Kimco Realty from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Wells Fargo & Company cut their price objective on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. Finally, Citigroup decreased their target price on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.33.

Insider Transactions at Kimco Realty

In other Kimco Realty news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $21.66, for a total transaction of $500,346.00. Following the completion of the sale, the director directly owned 40,260 shares of the company’s stock, valued at approximately $872,031.60. This represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.