Cornercap Investment Counsel Inc. Reduces Stock Position in Kimco Realty Corp (NYSE:KIM)

Cornercap Investment Counsel Inc. decreased its stake in shares of Kimco Realty Corp (NYSE:KIM) by 12.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,227 shares of the real estate investment trust’s stock after selling 3,686 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Kimco Realty were worth $491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of Kimco Realty during the 4th quarter worth $29,000. Blue Trust Inc. raised its stake in Kimco Realty by 613.5% during the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,816 shares during the period. EverSource Wealth Advisors LLC raised its stake in Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 773 shares during the period. UMB Bank n.a. boosted its holdings in Kimco Realty by 112.6% in the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Kimco Realty in the 1st quarter valued at approximately $70,000. 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 company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the transaction, the chief operating officer now owns 337,111 shares in the company, valued at approximately $7,389,473.12. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.20% of the stock is currently owned by insiders.

Kimco Realty Stock Up 1.6 %

Shares of NYSE:KIM opened at $24.02 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Kimco Realty Corp has a fifty-two week low of $16.34 and a fifty-two week high of $24.06. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of 45.32, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51. The firm’s 50 day moving average price is $22.03 and its 200 day moving average price is $20.01.

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

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is 181.14%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Argus upgraded Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Evercore ISI increased their price objective on shares of Kimco Realty from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Finally, Compass Point raised their price target on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and an average target price of $23.48.

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.