Insider Selling: Kimco Realty Corp (NYSE:KIM) Director Sells 3,380 Shares of Stock

Kimco Realty Corp (NYSE:KIM) Director Frank Lourenso sold 3,380 shares of Kimco Realty stock in a transaction on Friday, June 21st. The shares were sold at an average price of $18.84, for a total transaction of $63,679.20. Following the transaction, the director now owns 198,106 shares in the company, valued at approximately $3,732,317.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of KIM stock opened at $18.90 on Monday. Kimco Realty Corp has a 12 month low of $14.29 and a 12 month high of $19.29. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 3.10 and a beta of 0.57.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). Kimco Realty had a return on equity of 8.37% and a net margin of 39.40%. The firm had revenue of $295.00 million during the quarter, compared to analyst estimates of $282.49 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Sell-side analysts forecast that Kimco Realty Corp will post 1.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.28 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.12 dividend on an annualized basis and a yield of 5.93%. Kimco Realty’s dividend payout ratio is currently 77.24%.

Several equities analysts recently weighed in on KIM shares. Zacks Investment Research upgraded shares of Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, May 1st. Bank of America upgraded shares of Kimco Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $19.00 to $21.00 in a report on Tuesday, June 11th. Raymond James lowered shares of Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 price objective on the stock. in a report on Tuesday, May 28th. Finally, Evercore ISI lowered shares of Kimco Realty from an “in-line” rating to an “underperform” rating in a report on Monday, April 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.36.

A number of hedge funds have recently modified their holdings of the business. TD Asset Management Inc. increased its position in Kimco Realty by 0.7% during the fourth quarter. TD Asset Management Inc. now owns 123,323 shares of the real estate investment trust’s stock valued at $1,807,000 after acquiring an additional 884 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Kimco Realty by 11.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,609 shares of the real estate investment trust’s stock valued at $185,000 after acquiring an additional 1,246 shares during the last quarter. Comerica Bank increased its position in Kimco Realty by 1.1% during the fourth quarter. Comerica Bank now owns 104,516 shares of the real estate investment trust’s stock valued at $1,802,000 after acquiring an additional 1,176 shares during the last quarter. Mackenzie Financial Corp increased its position in Kimco Realty by 5.8% during the fourth quarter. Mackenzie Financial Corp now owns 35,518 shares of the real estate investment trust’s stock valued at $520,000 after acquiring an additional 1,935 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in Kimco Realty during the fourth quarter valued at $107,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.

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.

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