Kimco Realty Corp (NYSE:KIM) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,692 shares of the real estate investment trust’s stock after selling 4,286 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Kimco Realty were worth $875,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MQS Management LLC acquired a new position in Kimco Realty in the third quarter valued at $348,000. Victory Capital Management Inc. boosted its holdings in Kimco Realty by 48.8% in the third quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock valued at $19,422,000 after acquiring an additional 274,295 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Kimco Realty by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,786,626 shares of the real estate investment trust’s stock valued at $87,925,000 after acquiring an additional 25,317 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Kimco Realty in the third quarter valued at $302,000. Finally, Apollon Wealth Management LLC boosted its holdings in Kimco Realty by 18.5% in the third quarter. Apollon Wealth Management LLC now owns 14,887 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 2,325 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KIM shares. Piper Sandler reiterated an “overweight” rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Scotiabank lifted their target price on Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a report on Friday, August 16th. Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Compass Point raised their price objective on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.14.

Kimco Realty Stock Up 0.8 %

Shares of NYSE KIM opened at $25.10 on Tuesday. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.19. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 3.29 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The stock’s 50-day simple moving average is $23.77 and its 200-day simple moving average is $21.57.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The business had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, equities analysts anticipate that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.98%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is 174.55%.

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.