Kimco Realty Corp (NYSE:KIM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 36.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,110 shares of the real estate investment trust’s stock after selling 9,117 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Kimco Realty were worth $374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in shares of Kimco Realty during the 3rd quarter valued at about $25,000. Blue Trust Inc. increased its position in Kimco Realty by 613.5% during the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC increased its position in Kimco Realty by 52.6% during the 1st 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 in the last quarter. UMB Bank n.a. increased its position in Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,787 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in Kimco Realty by 378.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 3,144 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Performance

Kimco Realty stock opened at $24.89 on Monday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a market cap of $16.78 billion, a P/E ratio of 45.25, a price-to-earnings-growth ratio of 3.29 and a beta of 1.50. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.19. The stock has a 50 day moving average of $23.77 and a 200-day moving average of $21.55.

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

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.02%. Kimco Realty’s dividend payout ratio (DPR) is currently 174.55%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Argus upgraded Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Raymond James upgraded Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Friday, August 16th. Finally, The Goldman Sachs Group upped their price target on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty has an average rating of “Moderate Buy” and a consensus target price of $24.14.

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.