Cerity Partners LLC Trims Stock Position in Kimco Realty Corp (NYSE:KIM)

Cerity Partners LLC cut its position in Kimco Realty Corp (NYSE:KIM) by 30.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,768 shares of the real estate investment trust’s stock after selling 12,878 shares during the quarter. Cerity Partners LLC’s holdings in Kimco Realty were worth $669,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KIM. FMR LLC raised its holdings in Kimco Realty by 7.9% during the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust’s stock worth $564,560,000 after purchasing an additional 1,755,684 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Kimco Realty by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust’s stock worth $411,179,000 after buying an additional 377,074 shares in the last quarter. Norges Bank purchased a new stake in shares of Kimco Realty in the fourth quarter valued at approximately $363,436,000. Charles Schwab Investment Management Inc. grew its holdings in Kimco Realty by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,581,547 shares of the real estate investment trust’s stock worth $224,496,000 after acquiring an additional 101,293 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Kimco Realty by 5.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,949,070 shares of the real estate investment trust’s stock worth $186,247,000 after acquiring an additional 414,155 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

KIM stock opened at $20.58 on Monday. The stock has a market cap of $13.98 billion, a P/E ratio of 36.75, a P/E/G ratio of 2.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The firm has a 50 day simple moving average of $20.94 and a 200 day simple moving average of $22.73. Kimco Realty Corp has a 52 week low of $17.93 and a 52 week high of $25.83.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Research analysts anticipate that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 178.57%.

Analyst Ratings Changes

KIM has been the topic of several research analyst reports. Scotiabank decreased their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. Citigroup reduced their price target on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. lowered their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Evercore ISI reduced their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.75.

Kimco Realty Company Profile

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.