Massachusetts Financial Services Co. MA Has $174.96 Million Stake in Kimco Realty Corp (NYSE:KIM)

Massachusetts Financial Services Co. MA reduced its stake in shares of Kimco Realty Corp (NYSE:KIM) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,534,915 shares of the real estate investment trust’s stock after selling 408,731 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.12% of Kimco Realty worth $174,961,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at $25,000. Blue Trust Inc. increased its position in Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,816 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Kimco Realty by 52.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 773 shares during the last quarter. UMB Bank n.a. lifted its position in Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,787 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Kimco Realty by 378.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 3,144 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on KIM shares. Wells Fargo & Company raised their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Mizuho cut Kimco Realty from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Evercore ISI increased their target price on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Robert W. Baird boosted their target price on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research report on Friday, August 16th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.14.

Kimco Realty Stock Performance

Shares of Kimco Realty stock opened at $25.37 on Friday. The stock’s 50-day moving average is $23.91 and its 200-day moving average is $21.71. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.46. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 46.13, a price-to-earnings-growth ratio of 3.28 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The firm had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. Equities analysts predict that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.94%. Kimco Realty’s payout ratio is 174.55%.

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.