Moody National Bank Trust Division Sells 23,437 Shares of Kimco Realty Corp (NYSE:KIM)

Moody National Bank Trust Division trimmed its position in Kimco Realty Corp (NYSE:KIMGet Rating) by 57.4% during the second quarter, Holdings Channel reports. The firm owned 17,381 shares of the real estate investment trust’s stock after selling 23,437 shares during the quarter. Moody National Bank Trust Division’s holdings in Kimco Realty were worth $343,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Kimco Realty by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 100,537,581 shares of the real estate investment trust’s stock valued at $2,483,278,000 after purchasing an additional 3,081,151 shares during the period. BlackRock Inc. raised its holdings in Kimco Realty by 1.0% in the 1st quarter. BlackRock Inc. now owns 55,689,155 shares of the real estate investment trust’s stock valued at $1,375,521,000 after acquiring an additional 548,501 shares during the period. State Street Corp raised its holdings in Kimco Realty by 19.2% in the 1st quarter. State Street Corp now owns 44,220,642 shares of the real estate investment trust’s stock valued at $1,092,250,000 after acquiring an additional 7,126,475 shares during the period. Invesco Ltd. raised its holdings in Kimco Realty by 189.4% in the 1st quarter. Invesco Ltd. now owns 17,024,584 shares of the real estate investment trust’s stock valued at $420,508,000 after acquiring an additional 11,141,918 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Kimco Realty by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 12,617,726 shares of the real estate investment trust’s stock valued at $310,586,000 after acquiring an additional 245,905 shares during the period. 94.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

KIM has been the topic of several research analyst reports. Jefferies Financial Group lowered their price target on shares of Kimco Realty from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Kimco Realty from $26.00 to $23.00 in a report on Monday, July 11th. Mizuho increased their price target on shares of Kimco Realty from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 16th. Morgan Stanley increased their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 29th. Finally, Compass Point decreased their target price on shares of Kimco Realty from $27.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.81.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $20.86 on Tuesday. The company has a market cap of $12.90 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.01 and a beta of 1.39. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a 50 day simple moving average of $21.63 and a 200 day simple moving average of $22.50. Kimco Realty Corp has a one year low of $18.52 and a one year high of $26.57.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, September 8th. This represents a $0.88 annualized dividend and a dividend yield of 4.22%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.20. Kimco Realty’s dividend payout ratio (DPR) is presently 73.33%.

About Kimco Realty

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Kimco Realty (NYSE:KIM)

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