Raymond James & Associates Sells 11,793 Shares of Kimco Realty Corp (NYSE:KIM)

Raymond James & Associates lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,376 shares of the real estate investment trust’s stock after selling 11,793 shares during the quarter. Raymond James & Associates’ holdings in Kimco Realty were worth $1,542,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KIM. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $27,000. VitalStone Financial LLC purchased a new position in Kimco Realty in the first quarter valued at approximately $39,000. Larson Financial Group LLC bought a new position in Kimco Realty during the third quarter valued at $42,000. Signaturefd LLC increased its position in Kimco Realty by 67.8% in the third quarter. Signaturefd LLC now owns 2,588 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,046 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Kimco Realty by 46.6% in the third quarter. Allworth Financial LP now owns 2,600 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 827 shares during the period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $17.74 on Friday. Kimco Realty Corp has a one year low of $16.34 and a one year high of $22.83. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.05 and a quick ratio of 5.05. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 3.97 and a beta of 1.45. The company’s fifty day moving average price is $19.14 and its 200-day moving average price is $19.31.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.96 dividend on an annualized basis and a yield of 5.41%. Kimco Realty’s payout ratio is 94.12%.

Insiders Place Their Bets

In related news, Director Frank Lourenso sold 8,890 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $19.42, for a total transaction of $172,643.80. Following the transaction, the director now directly owns 203,534 shares of the company’s stock, valued at approximately $3,952,630.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KIM. Citigroup reiterated a “neutral” rating and set a $20.00 price target (down previously from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Robert W. Baird lowered their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Kimco Realty in a report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company. Mizuho dropped their target price on Kimco Realty from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Finally, Bank of America reiterated a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.67.

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.