Teachers Retirement System of The State of Kentucky Sells 2,769 Shares of Kimco Realty Corp (NYSE:KIM)

Teachers Retirement System of The State of Kentucky lessened its position in Kimco Realty Corp (NYSE:KIM) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,102 shares of the real estate investment trust’s stock after selling 2,769 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Kimco Realty were worth $1,186,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank lifted its position in Kimco Realty by 2.2% in the 3rd quarter. Toronto Dominion Bank now owns 334,091 shares of the real estate investment trust’s stock valued at $7,758,000 after acquiring an additional 7,049 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Kimco Realty by 2.5% in the third quarter. Coldstream Capital Management Inc. now owns 23,380 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 565 shares during the last quarter. RB Capital Management LLC purchased a new stake in shares of Kimco Realty during the third quarter valued at $237,000. Geode Capital Management LLC increased its holdings in Kimco Realty by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock worth $398,468,000 after buying an additional 53,378 shares in the last quarter. Finally, Barclays PLC increased its holdings in Kimco Realty by 14.3% in the 3rd quarter. Barclays PLC now owns 1,848,159 shares of the real estate investment trust’s stock worth $42,915,000 after buying an additional 231,606 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $24.30 on Wednesday. The company has a market capitalization of $16.38 billion, a P/E ratio of 44.18, a P/E/G ratio of 3.20 and a beta of 1.50. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.83. The firm’s 50 day simple moving average is $24.56 and its two-hundred day simple moving average is $22.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59.

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

Kimco Realty Increases Dividend

The firm 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 is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.12%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is currently 181.82%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KIM. Mizuho raised their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Truist Financial raised their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Robert W. Baird boosted their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company increased their price target on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Evercore ISI lifted their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus price target of $24.70.

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.