AlphaStar Capital Management LLC Cuts Position in Kimco Realty Corporation $KIM

AlphaStar Capital Management LLC lessened its holdings in Kimco Realty Corporation (NYSE:KIM) by 36.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,502 shares of the real estate investment trust’s stock after selling 7,910 shares during the period. AlphaStar Capital Management LLC’s holdings in Kimco Realty were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KIM. Amundi boosted its stake in shares of Kimco Realty by 54.2% in the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust’s stock worth $186,646,000 after buying an additional 3,253,031 shares during the last quarter. Invesco Ltd. lifted its stake in Kimco Realty by 14.7% in the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust’s stock valued at $423,441,000 after purchasing an additional 2,552,276 shares during the last quarter. Centersquare Investment Management LLC lifted its stake in Kimco Realty by 8.9% in the first quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust’s stock valued at $191,170,000 after purchasing an additional 733,514 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Kimco Realty in the second quarter valued at approximately $14,618,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kimco Realty by 105.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,259,781 shares of the real estate investment trust’s stock valued at $26,758,000 after purchasing an additional 648,021 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on KIM. Evercore ISI upped their price objective on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kimco Realty in a research note on Wednesday, October 8th. Barclays upped their price objective on Kimco Realty from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Piper Sandler dropped their price objective on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Finally, LADENBURG THALM/SH SH began coverage on Kimco Realty in a research note on Tuesday, September 9th. They issued a “buy” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.92.

Insider Buying and Selling at Kimco Realty

In other news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $21.66, for a total value of $500,346.00. Following the transaction, the director owned 40,260 shares of the company’s stock, valued at approximately $872,031.60. This represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Kimco Realty Trading Down 1.4%

Shares of KIM stock opened at $20.71 on Friday. The company’s fifty day simple moving average is $21.91 and its two-hundred day simple moving average is $21.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.56 and a beta of 1.30.

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

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.25. Kimco Realty’s payout ratio is presently 120.48%.

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.