Bank of New York Mellon Corp Trims Holdings in Kimco Realty Corporation $KIM

Bank of New York Mellon Corp trimmed its stake in shares of Kimco Realty Corporation (NYSE:KIM) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,659,290 shares of the real estate investment trust’s stock after selling 111,480 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kimco Realty were worth $123,655,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Kimco Realty by 2.2% during the second quarter. State Street Corp now owns 46,347,837 shares of the real estate investment trust’s stock valued at $974,232,000 after buying an additional 995,352 shares during the period. Geode Capital Management LLC boosted its position in shares of Kimco Realty by 1.4% in the second quarter. Geode Capital Management LLC now owns 18,679,552 shares of the real estate investment trust’s stock valued at $391,122,000 after acquiring an additional 260,928 shares during the period. Daiwa Securities Group Inc. grew its stake in Kimco Realty by 8.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,132,059 shares of the real estate investment trust’s stock valued at $255,016,000 after acquiring an additional 924,761 shares in the last quarter. Federated Hermes Inc. increased its holdings in Kimco Realty by 27.2% during the 3rd quarter. Federated Hermes Inc. now owns 10,649,864 shares of the real estate investment trust’s stock worth $232,700,000 after acquiring an additional 2,280,090 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Kimco Realty by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 10,021,054 shares of the real estate investment trust’s stock worth $210,643,000 after purchasing an additional 302,258 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KIM shares. Wells Fargo & Company reduced their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, December 15th. Scotiabank dropped their price objective on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. Mizuho set a $21.00 target price on Kimco Realty in a research note on Friday, January 9th. Citigroup lowered their price target on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Finally, Morgan Stanley set a $23.50 price objective on Kimco Realty in a report on Monday, January 5th. 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.89.

Kimco Realty Price Performance

Shares of Kimco Realty stock opened at $21.06 on Friday. The firm has a market capitalization of $14.26 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.13 and a beta of 1.05. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.77. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $23.03. The business’s 50-day moving average price is $20.46 and its 200-day moving average price is $21.15.

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 the consensus estimate of $0.43 by $0.01. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The business had revenue of $535.86 million during the quarter, compared to analyst estimates of $522.31 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Kimco Realty’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Company Profile

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.