Legal & General Group Plc Sells 1,403,310 Shares of Kimco Realty Corp (NYSE:KIM)

Legal & General Group Plc cut its stake in shares of Kimco Realty Corp (NYSE:KIM) by 19.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,774,607 shares of the real estate investment trust’s stock after selling 1,403,310 shares during the period. Legal & General Group Plc’s holdings in Kimco Realty were worth $135,299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased its holdings in Kimco Realty by 18.3% during the 4th quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust’s stock worth $407,301,000 after acquiring an additional 2,692,258 shares during the period. Bank of Montreal Can grew its position in shares of Kimco Realty by 1.9% during the 4th quarter. Bank of Montreal Can now owns 673,139 shares of the real estate investment trust’s stock valued at $15,772,000 after purchasing an additional 12,361 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Kimco Realty in the fourth quarter worth $230,000. FMR LLC raised its position in shares of Kimco Realty by 7.9% in the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust’s stock worth $564,560,000 after buying an additional 1,755,684 shares in the last quarter. Finally, Unigestion Holding SA boosted its stake in Kimco Realty by 20.4% during the fourth quarter. Unigestion Holding SA now owns 34,632 shares of the real estate investment trust’s stock valued at $811,000 after buying an additional 5,871 shares during the period. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

Kimco Realty stock opened at $19.79 on Friday. The firm has a fifty day simple moving average of $21.18 and a two-hundred day simple moving average of $22.85. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.83. The company has a market capitalization of $13.44 billion, a PE ratio of 35.33, a P/E/G ratio of 2.78 and a beta of 1.25.

Kimco Realty (NYSE:KIM) last released its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Research analysts expect that Kimco Realty Corp will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Friday, March 7th. Kimco Realty’s dividend payout ratio is 178.57%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KIM. Jefferies Financial Group cut Kimco Realty from a “buy” rating to a “hold” rating and lowered their price target for the company from $28.00 to $25.00 in a report on Thursday, January 2nd. Citigroup lowered their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Scotiabank cut their price target on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company decreased their price target on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Finally, Mizuho dropped their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.75.

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.