Kimco Realty Corp (KIM) Director Philip E. Coviello, Jr. Buys 7,500 Shares
Kimco Realty Corp (NYSE:KIM) Director Philip E. Coviello, Jr. bought 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were acquired at an average cost of $19.44 per share, with a total value of $145,800.00. Following the completion of the transaction, the director now owns 41,045 shares of the company’s stock, valued at $797,914.80. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Kimco Realty Corp (NYSE:KIM) traded up 0.61% on Wednesday, reaching $19.64. 5,303,847 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $21.69 and its 200 day moving average price is $24.22. Kimco Realty Corp has a 52-week low of $19.31 and a 52-week high of $32.24. The company has a market cap of $8.36 billion, a PE ratio of 31.08 and a beta of 0.73.
Kimco Realty Corp (NYSE:KIM) last posted its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $293.60 million for the quarter, compared to the consensus estimate of $291.46 million. Kimco Realty Corp had a net margin of 32.40% and a return on equity of 6.88%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, analysts expect that Kimco Realty Corp will post $0.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Thursday, July 6th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date is Monday, July 3rd. Kimco Realty Corp’s payout ratio is 135.00%.
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KIM has been the subject of several recent research reports. Barclays PLC decreased their target price on shares of Kimco Realty Corp from $32.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Canaccord Genuity reissued a “buy” rating and set a $34.00 target price on shares of Kimco Realty Corp in a research report on Friday, February 3rd. Zacks Investment Research raised shares of Kimco Realty Corp from a “sell” rating to a “hold” rating in a research report on Friday, February 24th. Evercore ISI raised shares of Kimco Realty Corp from a “hold” rating to an “outperform” rating in a research report on Friday, March 3rd. Finally, Robert W. Baird raised shares of Kimco Realty Corp from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $29.00 to $25.00 in a research report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.06.
Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Kimco Realty Corp by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 35,695,241 shares of the real estate investment trust’s stock worth $788,509,000 after buying an additional 2,483,036 shares during the last quarter. Bank of New York Mellon Corp increased its position in Kimco Realty Corp by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 17,419,066 shares of the real estate investment trust’s stock worth $384,788,000 after buying an additional 275,336 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Kimco Realty Corp by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,643,844 shares of the real estate investment trust’s stock worth $141,996,000 after buying an additional 111,436 shares during the last quarter. Norges Bank acquired a new position in Kimco Realty Corp during the fourth quarter worth about $74,839,000. Finally, APG Asset Management N.V. increased its position in Kimco Realty Corp by 11.0% in the first quarter. APG Asset Management N.V. now owns 2,878,279 shares of the real estate investment trust’s stock worth $63,581,000 after buying an additional 285,100 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.
About Kimco Realty Corp
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of December 31, 2016, the Company had interests in 525 shopping center properties, aggregating 85.4 million square feet of gross leasable area (GLA), located in 34 states, Puerto Rico and Canada.
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