Folger Nolan Fleming Douglas Capital Management Inc. Trims Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in Kimco Realty Corp (NYSE:KIM) by 1.9% during the 3rd quarter, Holdings Channel reports. The fund owned 60,666 shares of the real estate investment trust’s stock after selling 1,167 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Kimco Realty were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of KIM. abrdn plc lifted its holdings in Kimco Realty by 8.1% during the third quarter. abrdn plc now owns 1,316,266 shares of the real estate investment trust’s stock valued at $30,439,000 after purchasing an additional 98,729 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Kimco Realty by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 392,280 shares of the real estate investment trust’s stock valued at $9,107,000 after acquiring an additional 1,503 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kimco Realty by 24.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,370 shares of the real estate investment trust’s stock valued at $2,052,000 after purchasing an additional 17,734 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Kimco Realty in the third quarter valued at $276,000. Finally, IFM Investors Pty Ltd increased its stake in shares of Kimco Realty by 0.8% during the third quarter. IFM Investors Pty Ltd now owns 284,496 shares of the real estate investment trust’s stock worth $6,606,000 after buying an additional 2,119 shares during the period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Up 1.5 %

Shares of NYSE:KIM opened at $24.02 on Thursday. The company’s fifty day moving average is $23.44 and its 200-day moving average is $21.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. Kimco Realty Corp has a 52 week low of $17.31 and a 52 week high of $24.67. The company has a market capitalization of $16.19 billion, a PE ratio of 45.32, a P/E/G ratio of 4.10 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $500.20 million for the quarter, compared to the consensus estimate of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. Kimco Realty’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. Equities research analysts predict that Kimco Realty Corp will post 1.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KIM shares. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Wells Fargo & Company raised their price objective on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Robert W. Baird increased their target price on Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Kimco Realty currently has an average rating of “Moderate Buy” and an average target price of $23.55.

Insider Activity

In related news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

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.