Raymond James Financial Services Advisors Inc. Trims Stock Position in Kimco Realty Corp (NYSE:KIM)

Raymond James Financial Services Advisors Inc. lowered its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,625 shares of the real estate investment trust’s stock after selling 3,801 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Kimco Realty were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KIM. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $27,000. Larson Financial Group LLC bought a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $42,000. Allworth Financial LP grew its stake in shares of Kimco Realty by 46.6% during the 3rd quarter. Allworth Financial LP now owns 2,600 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 827 shares during the period. Signaturefd LLC grew its stake in shares of Kimco Realty by 67.8% during the 3rd quarter. Signaturefd LLC now owns 2,588 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,046 shares during the period. Finally, Systematic Alpha Investments LLC bought a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $47,000. 89.25% of the stock is currently owned by institutional investors.

Insider Transactions at Kimco Realty

In other news, Director Frank Lourenso sold 8,890 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.42, for a total transaction of $172,643.80. Following the transaction, the director now owns 203,534 shares of the company’s stock, valued at approximately $3,952,630.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Mizuho cut their price objective on Kimco Realty from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Bank of America restated a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Citigroup reiterated a “neutral” rating and set a $20.00 target price (down from $26.00) on shares of Kimco Realty in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Kimco Realty in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price for the company. Finally, Robert W. Baird lowered their target price on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.67.

Kimco Realty Price Performance

KIM opened at $18.60 on Tuesday. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $22.83. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.79. The business’s fifty day simple moving average is $19.08 and its 200-day simple moving average is $19.36. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 4.10 and a beta of 1.45.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend was Wednesday, March 6th. Kimco Realty’s payout ratio is 94.12%.

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.