Kimco Realty Corporation $KIM Stock: Caldwell Trust Co Cuts Stake

Caldwell Trust Co reduced its position in Kimco Realty Corporation (NYSE:KIM) by 46.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,319 shares of the real estate investment trust’s stock after selling 43,658 shares during the quarter. Caldwell Trust Co’s holdings in Kimco Realty were worth $1,118,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Kimco Realty during the 2nd quarter valued at $1,895,765,000. Bank of America Corp DE purchased a new stake in Kimco Realty in the second quarter worth $235,111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Kimco Realty by 7,715.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,304,565 shares of the real estate investment trust’s stock worth $159,821,000 after purchasing an additional 6,223,902 shares during the period. Legal & General Group Plc purchased a new stake in Kimco Realty in the second quarter worth $156,283,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Kimco Realty during the second quarter worth $152,113,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Shares of KIM stock opened at $25.63 on Friday. Kimco Realty Corporation has a twelve month low of $19.76 and a twelve month high of $26.65. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 2.94 and a beta of 0.91. The stock has a fifty day simple moving average of $23.16 and a two-hundred day simple moving average of $23.60. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.82.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $546.15 million for the quarter, compared to analyst estimates of $549.06 million. Kimco Realty had a return on equity of 7.16% and a net margin of 34.06%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. On average, analysts predict that Kimco Realty Corporation will post 1.85 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, December 4th. Kimco Realty’s dividend payout ratio is presently 104.67%.

Analyst Upgrades and Downgrades

KIM has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of Kimco Realty from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 29th. Truist Financial started coverage on shares of Kimco Realty in a report on Thursday, October 1st. They set a “hold” rating and a $24.00 price objective for the company. Piper Sandler boosted their price objective on shares of Kimco Realty from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings cut shares of Kimco Realty from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Mizuho dropped their target price on shares of Kimco Realty from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.88.

Kimco Realty Company Profile

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company’s portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.