Kimco Realty Corp (NYSE:KIM) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 1,389 call options on the company. This is an increase of 1,829% compared to the average volume of 72 call options.
In other news, insider Milton Cooper purchased 50,000 shares of the stock in a transaction dated Monday, December 4th. The shares were purchased at an average cost of $19.20 per share, with a total value of $960,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC purchased a new stake in Kimco Realty in the third quarter valued at approximately $105,000. Pacer Advisors Inc. raised its stake in Kimco Realty by 8.4% in the second quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 790 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in Kimco Realty in the third quarter valued at approximately $201,000. Stoneridge Investment Partners LLC purchased a new stake in Kimco Realty in the third quarter valued at approximately $203,000. Finally, Carnegie Capital Asset Management LLC purchased a new stake in Kimco Realty in the second quarter valued at approximately $204,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.
Kimco Realty (NYSE:KIM) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). The company had revenue of $290.92 million during the quarter, compared to analysts’ expectations of $295.34 million. Kimco Realty had a net margin of 17.85% and a return on equity of 4.68%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. equities analysts anticipate that Kimco Realty will post 1.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.28 dividend. This is an increase from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date is Friday, December 29th. Kimco Realty’s dividend payout ratio (DPR) is currently 164.71%.
A number of equities research analysts have recently issued reports on the stock. Mizuho set a $20.00 price target on shares of Kimco Realty and gave the stock a “hold” rating in a report on Monday, December 18th. Robert W. Baird reissued a “buy” rating and issued a $23.00 price target on shares of Kimco Realty in a report on Friday, November 10th. BMO Capital Markets set a $21.00 price target on shares of Kimco Realty and gave the stock a “hold” rating in a report on Wednesday, October 25th. JPMorgan Chase & Co. downgraded shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Friday, December 15th. Finally, Stifel Nicolaus assumed coverage on shares of Kimco Realty in a report on Thursday, November 30th. They issued a “hold” rating and a $19.50 price target on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Kimco Realty presently has a consensus rating of “Hold” and an average price target of $22.22.
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About Kimco Realty
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 June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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