Federated Hermes Inc. Lowers Stock Position in Kimco Realty Corp (NYSE:KIM)

Federated Hermes Inc. reduced its stake in shares of Kimco Realty Corp (NYSE:KIM) by 51.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,977 shares of the real estate investment trust’s stock after selling 4,190 shares during the period. Federated Hermes Inc.’s holdings in Kimco Realty were worth $85,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Kimco Realty in the 3rd quarter worth about $27,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Kimco Realty in the 4th quarter worth approximately $27,000. Larson Financial Group LLC purchased a new stake in shares of Kimco Realty in the 3rd quarter valued at $42,000. Allworth Financial LP boosted its stake in shares of Kimco Realty by 46.6% in the 3rd quarter. Allworth Financial LP now owns 2,600 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 827 shares in the last quarter. Finally, Signaturefd LLC grew its holdings 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 purchasing an additional 1,046 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Down 0.5 %

Shares of NYSE:KIM opened at $19.01 on Tuesday. The stock has a fifty day simple moving average of $18.90 and a two-hundred day simple moving average of $19.48. The company has a current ratio of 1.86, a quick ratio of 5.05 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 4.33 and a beta of 1.46. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $22.83.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be issued a $0.24 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.96 annualized dividend and a yield of 5.05%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.14%.

Insider Transactions at Kimco Realty

In other Kimco Realty 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 sale, the director now directly owns 203,534 shares in the company, valued at approximately $3,952,630.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

KIM has been the topic of a number of recent research reports. Citigroup reaffirmed a “neutral” rating and set a $20.00 price objective (down from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft started coverage on Kimco Realty in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company. Mizuho cut their target price on shares of Kimco Realty from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Robert W. Baird decreased their target price on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Finally, Bank of America reiterated a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kimco Realty currently has an average rating of “Hold” and an average target price of $21.48.

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.