Duff & Phelps Investment Management Co. Has $77.84 Million Position in Kimco Realty Corp (NYSE:KIM)

Duff & Phelps Investment Management Co. trimmed its holdings in Kimco Realty Corp (NYSE:KIM) by 24.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,322,192 shares of the real estate investment trust’s stock after selling 1,062,736 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Kimco Realty were worth $77,839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Kimco Realty during the third quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new position in shares of Kimco Realty during the third quarter valued at $37,000. Catalyst Capital Advisors LLC boosted its holdings in Kimco Realty by 102.9% in the fourth quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 1,104 shares during the last quarter. Quarry LP acquired a new position in Kimco Realty during the 3rd quarter valued at about $51,000. Finally, CoreFirst Bank & Trust acquired a new position in Kimco Realty in the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Performance

Shares of NYSE:KIM opened at $21.01 on Friday. The company’s 50 day moving average price is $21.79 and its two-hundred day moving average price is $23.14. Kimco Realty Corp has a 12-month low of $17.57 and a 12-month high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The firm has a market cap of $14.27 billion, a PE ratio of 37.51, a PEG ratio of 2.78 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last issued its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Equities research analysts predict that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.76%. Kimco Realty’s dividend payout ratio (DPR) is currently 178.57%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KIM. Jefferies Financial Group downgraded Kimco Realty from a “buy” rating to a “hold” rating and dropped their price objective for the company from $28.00 to $25.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Citigroup lowered their price target on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Wells Fargo & Company reduced their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Mizuho reduced their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Ten equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.43.

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.