State of Tennessee Department of Treasury Lowers Position in Kimco Realty Corp (NYSE:KIM)

State of Tennessee Department of Treasury trimmed its stake in Kimco Realty Corp (NYSE:KIM) by 1.2% during the 4th quarter, Holdings Channel reports. The firm owned 841,286 shares of the real estate investment trust’s stock after selling 10,586 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Kimco Realty were worth $19,711,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Asset Management One Co. Ltd. increased its holdings in shares of Kimco Realty by 1.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,235,249 shares of the real estate investment trust’s stock worth $28,868,000 after buying an additional 12,705 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Kimco Realty in the third quarter valued at $17,636,000. B&I Capital AG raised its position in Kimco Realty by 13.9% during the fourth quarter. B&I Capital AG now owns 509,830 shares of the real estate investment trust’s stock valued at $11,945,000 after purchasing an additional 62,100 shares in the last quarter. Nordea Investment Management AB lifted its stake in Kimco Realty by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock worth $1,319,000 after purchasing an additional 3,614 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in shares of Kimco Realty in the 4th quarter worth about $610,000. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Trading Up 1.7 %

KIM opened at $20.44 on Wednesday. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 2.78 and a beta of 1.25. Kimco Realty Corp has a one year low of $17.93 and a one year high of $25.83. The business has a 50 day simple moving average of $20.86 and a two-hundred day simple moving average of $22.70. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last announced its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS 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%. Analysts predict that Kimco Realty Corp will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 178.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KIM shares. Jefferies Financial Group cut Kimco Realty from a “buy” rating to a “hold” rating and decreased their price objective for the company from $28.00 to $25.00 in a report on Thursday, January 2nd. Wells Fargo & Company lowered their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. reduced their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Scotiabank decreased their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Finally, Mizuho cut their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.