Legacy Capital Group California Inc. Sells 1,501 Shares of Kimco Realty Corp (NYSE:KIM)

Legacy Capital Group California Inc. trimmed its holdings in Kimco Realty Corp (NYSE:KIM) by 6.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,372 shares of the real estate investment trust’s stock after selling 1,501 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Kimco Realty were worth $519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KIM. Vanguard Group Inc. lifted its position in shares of Kimco Realty by 7.7% during the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares in the last quarter. APG Asset Management US Inc. raised its position in Kimco Realty by 1.6% in the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock worth $288,155,000 after purchasing an additional 240,000 shares during the last quarter. Centersquare Investment Management LLC lifted its holdings in Kimco Realty by 76.8% during the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after buying an additional 6,282,891 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock valued at $221,740,000 after buying an additional 1,193,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Kimco Realty by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,129,551 shares of the real estate investment trust’s stock valued at $197,116,000 after buying an additional 94,811 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Insider Buying and Selling at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares in the company, valued at $7,389,473.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Truist Financial raised their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Evercore ISI boosted 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 16th. Scotiabank raised their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company upped their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.

Kimco Realty Price Performance

KIM stock opened at $23.55 on Friday. The stock has a market cap of $15.88 billion, a PE ratio of 43.61, a price-to-earnings-growth ratio of 4.10 and a beta of 1.50. The stock has a 50-day moving average price of $23.36 and a two-hundred day moving average price of $20.89. Kimco Realty Corp has a 1 year low of $16.49 and a 1 year high of $24.67. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. During the same period in the prior year, the business posted $0.39 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts forecast that Kimco Realty Corp will post 1.62 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is currently 177.78%.

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.