Bank of New York Mellon Corp Lowers Position in Kimco Realty Corporation $KIM

Bank of New York Mellon Corp lessened its stake in Kimco Realty Corporation (NYSE:KIM) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,659,290 shares of the real estate investment trust’s stock after selling 111,480 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.84% of Kimco Realty worth $123,655,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Values First Advisors Inc. boosted its holdings in Kimco Realty by 1.7% during the 3rd quarter. Values First Advisors Inc. now owns 27,590 shares of the real estate investment trust’s stock worth $603,000 after acquiring an additional 450 shares during the last quarter. Jump Financial LLC raised its holdings in shares of Kimco Realty by 5.1% in the second quarter. Jump Financial LLC now owns 12,932 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 633 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Kimco Realty by 6.5% during the third quarter. Farther Finance Advisors LLC now owns 10,556 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 640 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Kimco Realty by 6.8% during the second quarter. EP Wealth Advisors LLC now owns 10,609 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 674 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its position in Kimco Realty by 6.6% in the 3rd quarter. Miracle Mile Advisors LLC now owns 10,960 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 674 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

Shares of KIM opened at $21.06 on Friday. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $23.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.59 and a quick ratio of 3.59. The stock’s fifty day moving average price is $20.46 and its two-hundred day moving average price is $21.15. The firm has a market cap of $14.26 billion, a PE ratio of 25.37, a PEG ratio of 1.13 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $535.86 million during the quarter, compared to analyst estimates of $522.31 million. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. On average, equities research analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley set a $23.50 target price on shares of Kimco Realty in a research report on Monday, January 5th. UBS Group dropped their price target on Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Wall Street Zen cut Kimco Realty from a “hold” rating to a “sell” rating in a research report on Sunday, December 28th. Truist Financial decreased their target price on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday, January 20th. Finally, Argus reissued a “buy” rating and issued a $27.00 price target on shares of Kimco Realty in a report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kimco Realty has an average rating of “Moderate Buy” and a consensus price target of $23.89.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.