Citizens National Bank Trust Department Trims Stake in Kimco Realty Corp (NYSE:KIM)

Citizens National Bank Trust Department reduced its position in shares of Kimco Realty Corp (NYSE:KIM) by 26.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,905 shares of the real estate investment trust’s stock after selling 1,730 shares during the period. Citizens National Bank Trust Department’s holdings in Kimco Realty were worth $114,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC grew its position in shares of Kimco Realty by 71.0% during the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock valued at $3,531,000 after purchasing an additional 74,729 shares in the last quarter. Vanguard Group Inc. grew its position in Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after acquiring an additional 7,931,013 shares in the last quarter. Forsta AP Fonden grew its position in Kimco Realty by 232.9% in the first quarter. Forsta AP Fonden now owns 435,800 shares of the real estate investment trust’s stock worth $8,546,000 after acquiring an additional 304,900 shares in the last quarter. BNP Paribas Financial Markets grew its position in Kimco Realty by 63.5% in the first quarter. BNP Paribas Financial Markets now owns 1,031,957 shares of the real estate investment trust’s stock worth $20,237,000 after acquiring an additional 400,825 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Kimco Realty by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock worth $73,195,000 after acquiring an additional 103,861 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

KIM stock opened at $23.83 on Monday. Kimco Realty Corp has a 1 year low of $17.51 and a 1 year high of $24.67. The company has a market cap of $16.06 billion, a P/E ratio of 43.33, a PEG ratio of 4.04 and a beta of 1.49. The firm has a 50-day moving average of $23.47 and a 200 day moving average of $21.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 1.73.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The business had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. Kimco Realty’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS. On average, sell-side analysts forecast that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is 174.55%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Scotiabank upped their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI upped their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and set a $29.00 price target (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus target price of $23.55.

About Kimco Realty

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.