Pictet Asset Management Holding SA Sells 1,794 Shares of Kimco Realty Corp (NYSE:KIM)

Pictet Asset Management Holding SA decreased its stake in shares of Kimco Realty Corp (NYSE:KIM) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,537 shares of the real estate investment trust’s stock after selling 1,794 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of Kimco Realty worth $10,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in KIM. Asset Management One Co. Ltd. increased its holdings in Kimco Realty by 1.0% during the 4th 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 purchasing an additional 12,705 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Kimco Realty in the 3rd quarter valued at approximately $17,636,000. B&I Capital AG lifted its stake in Kimco Realty by 13.9% in the 4th quarter. B&I Capital AG now owns 509,830 shares of the real estate investment trust’s stock valued at $11,945,000 after acquiring an additional 62,100 shares in the last quarter. Nordea Investment Management AB boosted its position in Kimco Realty by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock worth $1,319,000 after acquiring an additional 3,614 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Kimco Realty during the 4th quarter worth approximately $1,045,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KIM has been the subject of several recent research reports. Mizuho reduced their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Citigroup lowered their target price on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company reduced their price target on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Finally, Evercore ISI decreased their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Ten equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.43.

Kimco Realty Stock Performance

Shares of KIM stock opened at $21.48 on Thursday. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 2.78 and a beta of 1.53. The company has a 50-day simple moving average of $21.69 and a 200 day simple moving average of $23.07. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65.

Kimco Realty (NYSE:KIM) last posted its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. On average, sell-side analysts predict that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 178.57%.

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.