Allstate Corp Sells 33,185 Shares of Kimco Realty Corp (NYSE:KIM)

Allstate Corp lessened its holdings in Kimco Realty Corp (NYSE:KIM) by 21.3% in the 4th quarter, Holdings Channel reports. The firm owned 122,532 shares of the real estate investment trust’s stock after selling 33,185 shares during the quarter. Allstate Corp’s holdings in Kimco Realty were worth $2,871,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Kimco Realty during the 4th quarter valued at about $363,436,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Kimco Realty by 842.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock valued at $145,420,000 after purchasing an additional 5,598,091 shares during the last quarter. Amundi grew its holdings in Kimco Realty by 70.7% in the 4th quarter. Amundi now owns 5,999,390 shares of the real estate investment trust’s stock valued at $132,227,000 after buying an additional 2,484,536 shares during the last quarter. FMR LLC increased its position in Kimco Realty by 6.1% during the third quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after acquiring an additional 1,283,352 shares during the period. Finally, National Pension Service increased its holdings in shares of Kimco Realty by 4,342.8% during the 4th quarter. National Pension Service now owns 1,078,262 shares of the real estate investment trust’s stock worth $25,264,000 after purchasing an additional 1,053,992 shares during the period. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Trading Down 0.4 %

Shares of KIM opened at $20.94 on Friday. 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 company has a market cap of $14.23 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.78 and a beta of 1.53. The stock has a fifty day moving average price of $21.76 and a two-hundred day moving average price of $23.12. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83.

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

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 178.57%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KIM. Scotiabank lowered their price target on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Jefferies Financial Group lowered Kimco Realty from a “buy” rating to a “hold” rating and cut their target price for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Mizuho decreased their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Citigroup dropped their price objective on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Ten 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, Kimco Realty has an average rating of “Moderate Buy” and a consensus price target of $24.43.

Kimco Realty 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.