Insider Selling: Kimco Realty Corp (NYSE:KIM) Director Sells $63,679.20 in Stock

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

Kimco Realty stock opened at $18.90 on Monday. Kimco Realty Corp has a 1 year low of $14.29 and a 1 year high of $19.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.96 and a quick ratio of 1.96. The company has a market capitalization of $7.98 billion, a PE ratio of 13.03, a PEG ratio of 3.10 and a beta of 0.57.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.12). Kimco Realty had a net margin of 39.40% and a return on equity of 8.37%. The firm had revenue of $295.00 million during the quarter, compared to analyst estimates of $282.49 million. During the same period in the prior year, the company earned $0.39 EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts predict 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. Stockholders of record on Tuesday, July 2nd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Monday, July 1st. Kimco Realty’s dividend payout ratio is currently 77.24%.

Several research analysts have commented on the company. Zacks Investment Research raised Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Wednesday, May 1st. Raymond James downgraded 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. Bank of America raised Kimco Realty from a “neutral” rating to a “buy” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Tuesday, June 11th. Finally, Evercore ISI downgraded Kimco Realty from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $18.36.

Several institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc. grew its stake in Kimco Realty by 0.7% in the 4th quarter. TD Asset Management Inc. now owns 123,323 shares of the real estate investment trust’s stock worth $1,807,000 after acquiring an additional 884 shares during the period. Janney Montgomery Scott LLC grew its stake in Kimco Realty by 11.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 12,609 shares of the real estate investment trust’s stock worth $185,000 after acquiring an additional 1,246 shares during the period. Comerica Bank grew its stake in Kimco Realty by 1.1% in the 4th quarter. Comerica Bank now owns 104,516 shares of the real estate investment trust’s stock worth $1,802,000 after acquiring an additional 1,176 shares during the period. Mackenzie Financial Corp grew its stake in Kimco Realty by 5.8% in the 4th quarter. Mackenzie Financial Corp now owns 35,518 shares of the real estate investment trust’s stock worth $520,000 after acquiring an additional 1,935 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in Kimco Realty in the 4th quarter worth approximately $107,000. 89.65% of the stock is owned by institutional investors.

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.

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