Several institutional investors and hedge funds have recently changed their shares in Kimco Realty. Blue Trust Inc. increased its stake by over 613% in Q2, now owning 2,112 shares valued at $41,000 after acquiring 1,816 additional shares. EverSource Wealth Advisors upped its position by 52.6% in Q1, now holding 2,243 shares worth $42,000. UMB Bank n.a. grew its stake by 112.6% in Q2, owning 3,374 shares valued at $66,000. Fidelis Capital Partners acquired a new position worth $70,000, while Benjamin F. Edwards & Co. increased its stake by an impressive 378.3%, now holding 3,975 shares valued at $77,000. Overall, institutional investors own 89.25% of Kimco’s shares.
Analysts Update Price Targets
Kimco Realty has been analyzed by several firms. Truist Financial raised its target from $22 to $24 with a hold rating. Compass Point increased its target from $25 to $28 with a buy rating. Robert W. Baird revised its target from $21 to $23 with an outperform rating. Evercore ISI adjusted their target to $23, giving it an in-line rating. Wells Fargo also raised its target from $21 to $24 with an equal weight rating. In total, nine analysts rated it as a hold, five as buy, and two as strong buy, averaging a rating of Moderate Buy and a target price of $23.55.
Get Our Latest Analysis on Kimco Realty
Insider Transactions
In related news, COO David Jamieson sold 50,000 shares on August 2 at an average price of $21.92, totaling about $1.1 million. He retains 337,111 shares valued at approximately $7.4 million. Corporate insiders hold 2.20% of the stock.
Kimco Realty Stock Performance
On Friday, Kimco Realty (NYSE: KIM) opened at $23.18. The company’s market cap is $15.63 billion, with a PE ratio of 43.74 and a beta of 1.50. The stock’s 12-month low is $16.34 and the high is $24.25. The 50-day moving average is $22.92, and the 200-day is $20.54. Kimco reported Q2 earnings of $0.17 per share, missing estimates of $0.40, but revenue rose 13% year-over-year to $500.20 million.
Dividend Announcement
Kimco Realty declared a quarterly dividend of $0.24 per share, payable on September 19, with a yield of 4.14%. The dividend payout ratio currently stands at 181.13%.
Company Profile
Kimco Realty Corp. is a New York-based REIT that is one of the largest owners of open-air shopping centers in North America. As of December 31, 2018, it owns interests in 437 shopping centers.
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