Kimco Realty Corp (NYSE:KIM) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its stake in shares of Kimco Realty Corp (NYSE:KIM) by 5.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 660,778 shares of the real estate investment trust’s stock after selling 37,215 shares during the period. Bank of Montreal Can’s holdings in Kimco Realty were worth $15,171,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Kimco Realty by 2.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock worth $73,195,000 after acquiring an additional 103,861 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Kimco Realty by 48.8% during the third quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock worth $19,422,000 after purchasing an additional 274,295 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kimco Realty by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock valued at $220,131,000 after buying an additional 405,685 shares during the last quarter. Sei Investments Co. raised its stake in Kimco Realty by 71.5% in the second quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock valued at $54,345,000 after buying an additional 1,164,029 shares in the last quarter. Finally, Swedbank AB raised its stake in Kimco Realty by 5.3% in the third quarter. Swedbank AB now owns 555,094 shares of the real estate investment trust’s stock valued at $12,889,000 after buying an additional 28,109 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Scotiabank increased their price objective on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a report on Monday, November 25th. Mizuho lowered shares of Kimco Realty from an “outperform” rating to a “neutral” rating and increased their price target for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Friday, August 16th. Wells Fargo & Company lifted their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Compass Point upped their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $25.57 on Friday. The stock has a fifty day moving average price of $24.14 and a 200 day moving average price of $22.00. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The company has a market cap of $17.24 billion, a PE ratio of 46.49, a P/E/G ratio of 3.37 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). The firm had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Sell-side analysts forecast that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.25 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is currently 181.82%.

Kimco Realty 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.