Bessemer Group Inc. Reduces Stake in Kimco Realty Corporation $KIM

Bessemer Group Inc. reduced its stake in Kimco Realty Corporation (NYSE:KIM) by 11.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,345 shares of the real estate investment trust’s stock after selling 2,678 shares during the quarter. Bessemer Group Inc.’s holdings in Kimco Realty were worth $428,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KIM. Amundi grew its holdings in Kimco Realty by 54.2% in the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust’s stock valued at $186,646,000 after buying an additional 3,253,031 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Kimco Realty by 14.7% during the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust’s stock worth $423,441,000 after purchasing an additional 2,552,276 shares during the period. Centersquare Investment Management LLC grew its holdings in shares of Kimco Realty by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust’s stock worth $191,170,000 after purchasing an additional 733,514 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Kimco Realty during the 2nd quarter worth $14,618,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Kimco Realty by 105.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,259,781 shares of the real estate investment trust’s stock worth $26,758,000 after purchasing an additional 648,021 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut Kimco Realty from a “hold” rating to a “sell” rating in a report on Saturday. Barclays increased their price target on Kimco Realty from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Piper Sandler lowered their price target on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Wells Fargo & Company started coverage on Kimco Realty in a report on Tuesday, October 21st. They set an “equal weight” rating and a $23.00 price target for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Kimco Realty in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.92.

Insider Buying and Selling

In other Kimco Realty news, Director Mary Hogan Preusse sold 23,100 shares of Kimco Realty stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $21.66, for a total transaction of $500,346.00. Following the transaction, the director owned 40,260 shares of the company’s stock, valued at $872,031.60. The trade was a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $20.71 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The firm has a market capitalization of $14.02 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30. The stock’s 50-day simple moving average is $21.91 and its 200-day simple moving average is $21.40.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The business had revenue of $535.86 million for the quarter, compared to analyst estimates of $522.31 million. During the same quarter last year, the company earned $0.43 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. As a group, equities research analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.26 per share. This is a boost from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.04 annualized dividend and a dividend yield of 5.0%. Kimco Realty’s dividend payout ratio is 125.30%.

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.