Kovitz Investment Group Partners LLC Cuts Stake in Kimco Realty Corp (NYSE:KIM)

Kovitz Investment Group Partners LLC cut its holdings in Kimco Realty Corp (NYSE:KIM) by 76.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,087 shares of the real estate investment trust’s stock after selling 192,921 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Kimco Realty were worth $1,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. lifted its holdings in shares of Kimco Realty by 1.0% in the fourth 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 in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Kimco Realty during the 3rd quarter valued at about $17,636,000. B&I Capital AG grew its position in shares of 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 increased its holdings in shares of Kimco Realty by 6.9% in 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 bought a new stake in shares of Kimco Realty in the fourth quarter worth about $610,000. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Stock Down 2.0 %

Kimco Realty stock opened at $20.09 on Wednesday. The business has a fifty day moving average price of $20.73 and a 200-day moving average price of $22.61. Kimco Realty Corp has a 1-year low of $17.93 and a 1-year high of $25.83. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 2.78 and a beta of 1.25. 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 issued its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Equities research analysts forecast that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.98%. Kimco Realty’s payout ratio is currently 178.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KIM shares. Wells Fargo & Company dropped their price target on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Citigroup cut their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and lowered their price objective for the company from $28.00 to $25.00 in a research report on Thursday, January 2nd. Mizuho reduced their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Scotiabank lowered their price target on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.68.

Kimco Realty Company 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.