Kimco Realty Corp (NYSE:KIM) Stock Position Reduced by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC cut its stake in shares of Kimco Realty Corp (NYSE:KIM) by 5.5% during the third quarter, HoldingsChannel.com reports. The firm owned 177,862 shares of the real estate investment trust’s stock after selling 10,345 shares during the period. Kimco Realty makes up about 1.7% of Murphy Pohlad Asset Management LLC’s portfolio, making the stock its 17th largest holding. Murphy Pohlad Asset Management LLC’s holdings in Kimco Realty were worth $4,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KIM. Blue Trust Inc. lifted its stake 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 valued at $41,000 after acquiring an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 valued at $42,000 after acquiring an additional 773 shares during the last quarter. UMB Bank n.a. lifted its stake in Kimco Realty by 112.6% in 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 during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Kimco Realty in the first quarter valued at approximately $70,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Kimco Realty by 378.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 3,144 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KIM has been the subject of several recent analyst reports. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Friday, August 16th. Truist Financial increased their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Scotiabank increased their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, The Goldman Sachs Group increased their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.55.

Kimco Realty Trading Up 0.5 %

Shares of Kimco Realty stock opened at $23.83 on Friday. The stock has a market capitalization of $16.06 billion, a P/E ratio of 44.13, a price-to-earnings-growth ratio of 4.09 and a beta of 1.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $23.47 and a 200 day simple moving average of $21.08. Kimco Realty Corp has a 12-month low of $17.51 and a 12-month high of $24.67.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The firm had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. Research analysts expect that Kimco Realty Corp will post 1.62 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is 177.78%.

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.