Kimco Realty Corp (NYSE:KIM) Shares Sold by Washington Trust Bank

Washington Trust Bank cut its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,991 shares of the real estate investment trust’s stock after selling 1,636 shares during the period. Washington Trust Bank’s holdings in Kimco Realty were worth $369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KIM. Stifel Financial Corp raised its stake in shares of Kimco Realty by 70.4% in the fourth quarter. Stifel Financial Corp now owns 47,402 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 19,591 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Kimco Realty by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 7,138,547 shares of the real estate investment trust’s stock worth $104,438,000 after purchasing an additional 534,503 shares during the last quarter. Millennium Management LLC raised its stake in shares of Kimco Realty by 250.8% in the fourth quarter. Millennium Management LLC now owns 541,143 shares of the real estate investment trust’s stock worth $7,928,000 after purchasing an additional 386,889 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Kimco Realty by 498.2% in the fourth quarter. Nordea Investment Management AB now owns 99,010 shares of the real estate investment trust’s stock worth $1,450,000 after purchasing an additional 82,460 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Kimco Realty by 1.1% in the first quarter. State of Alaska Department of Revenue now owns 221,030 shares of the real estate investment trust’s stock worth $4,088,000 after purchasing an additional 2,351 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Several brokerages have recently issued reports on KIM. Bank of America upgraded Kimco Realty from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $21.00 in a research note on Tuesday, June 11th. Citigroup raised their price objective on Kimco Realty from $18.00 to $18.50 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. ValuEngine cut Kimco Realty from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, May 1st. Finally, Raymond James cut Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 price objective for the company. in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.17.

In other news, Director Frank Lourenso sold 3,380 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $18.84, for a total value of $63,679.20. Following the completion of the sale, the director now directly owns 198,106 shares in the company, valued at $3,732,317.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by insiders.

KIM stock traded up $0.02 during trading on Wednesday, hitting $18.81. 124,709 shares of the company traded hands, compared to its average volume of 3,345,580. The stock’s 50-day moving average is $18.59. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $7.83 billion, a P/E ratio of 12.96, a PEG ratio of 3.22 and a beta of 0.59. Kimco Realty Corp has a 1 year low of $14.29 and a 1 year high of $19.43.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.16). The company had revenue of $284.87 million for the quarter, compared to analysts’ expectations of $281.96 million. Kimco Realty had a net margin of 34.08% and a return on equity of 7.23%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. Research analysts predict that Kimco Realty Corp will post 1.47 earnings per share for the current year.

Kimco Realty 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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Institutional Ownership by Quarter for Kimco Realty (NYSE:KIM)

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