Wellington Management Group LLP Cuts Holdings in Kimco Realty Corp (NYSE:KIM)

Wellington Management Group LLP lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 5.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,360,605 shares of the real estate investment trust’s stock after selling 72,021 shares during the period. Wellington Management Group LLP’s holdings in Kimco Realty were worth $31,593,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock valued at $1,048,797,000 after purchasing an additional 882,047 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Kimco Realty during the 3rd quarter valued at about $443,000. Quantinno Capital Management LP raised its holdings in shares of Kimco Realty by 48.6% during the 3rd quarter. Quantinno Capital Management LP now owns 36,731 shares of the real estate investment trust’s stock valued at $853,000 after buying an additional 12,005 shares in the last quarter. Quarry LP bought a new stake in Kimco Realty in the 3rd quarter worth approximately $51,000. Finally, Point72 DIFC Ltd purchased a new stake in Kimco Realty in the third quarter worth approximately $2,387,000. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Performance

Shares of KIM stock opened at $24.49 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average of $24.47 and a 200 day moving average of $22.35. The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of 44.53, a PEG ratio of 3.30 and a beta of 1.50. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83.

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

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.08%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is presently 181.82%.

Wall Street Analyst Weigh In

KIM has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI boosted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Compass Point raised their price objective on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. UBS Group boosted their target price on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Argus upgraded Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.70.

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.