Pitcairn Co. Sells 1,703 Shares of Kimco Realty Corp (NYSE:KIM)

Pitcairn Co. decreased its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 10.8% in the third quarter, Holdings Channel.com reports. The firm owned 14,001 shares of the real estate investment trust’s stock after selling 1,703 shares during the period. Pitcairn Co.’s holdings in Kimco Realty were worth $325,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in KIM. Catalyst Capital Advisors LLC purchased a new stake in shares of Kimco Realty in the 3rd quarter worth approximately $25,000. Blue Trust Inc. boosted its holdings in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 773 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of Kimco Realty in the third quarter worth $77,000. Finally, UMB Bank n.a. increased its holdings in shares of Kimco Realty by 112.6% during the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 1,787 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KIM has been the topic of a number of analyst reports. Evercore ISI upped their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Robert W. Baird increased their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Friday, August 16th. Truist Financial upped their price objective on Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Scotiabank lifted their target price on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Kimco Realty Trading Down 0.3 %

Shares of NYSE:KIM opened at $25.46 on Wednesday. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.58. The stock has a market capitalization of $17.16 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 3.32 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 $24.00 and its two-hundred day simple moving average is $21.88.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data 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). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The business had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. During the same period in the previous year, the business posted $0.40 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Analysts expect that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.93%. Kimco Realty’s payout ratio is 181.82%.

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.