Insider Selling: Kimco Realty (NYSE:KIM) Director Sells $500,346.00 in Stock

Kimco Realty Corporation (NYSE:KIM) Director Mary Hogan Preusse sold 23,100 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $21.66, for a total transaction of $500,346.00. Following the completion of the transaction, the director directly owned 40,260 shares of the company’s stock, valued at approximately $872,031.60. This trade represents a 36.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Kimco Realty Trading Down 0.8%

Shares of Kimco Realty stock opened at $21.34 on Friday. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $25.83. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. The stock has a market cap of $14.45 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The company has a 50-day moving average of $21.81 and a two-hundred day moving average of $21.21.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The company had revenue of $525.18 million during the quarter, compared to analysts’ expectations of $524.75 million. During the same period last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, research analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is 120.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Mizuho raised their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Wall Street Zen raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Evercore ISI raised their price objective 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 8th. Finally, LADENBURG THALM/SH SH began coverage on shares of Kimco Realty in a research note on Tuesday, September 9th. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.85.

Institutional Trading of Kimco Realty

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC boosted its position in Kimco Realty by 114.0% during the second quarter. Corient Private Wealth LLC now owns 74,633 shares of the real estate investment trust’s stock worth $1,569,000 after acquiring an additional 39,752 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of Kimco Realty in the 2nd quarter valued at $107,000. Osaic Holdings Inc. boosted its holdings in shares of Kimco Realty by 140.6% in the 2nd quarter. Osaic Holdings Inc. now owns 40,211 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 23,497 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Kimco Realty by 37.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 376,020 shares of the real estate investment trust’s stock valued at $7,903,000 after purchasing an additional 101,597 shares during the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of Kimco Realty in the 2nd quarter valued at $259,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

About Kimco Realty

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.