AMP Capital Investors Ltd lessened its holdings in Kimco Realty Corp (NYSE:KIM) by 11.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 443,629 shares of the real estate investment trust’s stock after selling 55,805 shares during the quarter. AMP Capital Investors Ltd owned 0.11% of Kimco Realty worth $7,537,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Planning purchased a new stake in Kimco Realty in the 2nd quarter valued at approximately $172,000. Virtu Financial LLC purchased a new stake in Kimco Realty in the 2nd quarter valued at approximately $173,000. Advisor Partners LLC purchased a new stake in Kimco Realty in the 2nd quarter valued at approximately $192,000. Goodwin Daniel L acquired a new stake in shares of Kimco Realty during the 2nd quarter valued at approximately $204,000. Finally, Korea Investment CORP lifted its position in shares of Kimco Realty by 3,467.7% during the 2nd quarter. Korea Investment CORP now owns 13,272 shares of the real estate investment trust’s stock valued at $225,000 after acquiring an additional 12,900 shares during the period. 86.23% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on KIM. ValuEngine downgraded shares of Kimco Realty from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Sandler O’Neill reiterated a “hold” rating and set a $18.00 price target on shares of Kimco Realty in a research report on Friday, July 27th. JPMorgan Chase & Co. upgraded shares of Kimco Realty from a “neutral” rating to an “overweight” rating in a research report on Friday, June 15th. Stifel Nicolaus reiterated a “hold” rating and set a $17.00 price target on shares of Kimco Realty in a research report on Friday, July 27th. Finally, Wells Fargo & Co lifted their price target on shares of Kimco Realty from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.15.
Shares of Kimco Realty stock opened at $17.09 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.09 and a quick ratio of 0.09. Kimco Realty Corp has a 1 year low of $13.16 and a 1 year high of $20.63. The company has a market cap of $7.26 billion, a P/E ratio of 11.02, a P/E/G ratio of 3.73 and a beta of 0.38.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Kimco Realty had a return on equity of 9.40% and a net margin of 42.68%. The firm had revenue of $293.40 million during the quarter, compared to the consensus estimate of $291.04 million. During the same period in the previous year, the firm posted $0.38 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. analysts forecast that Kimco Realty Corp will post 1.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, October 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, October 1st. This represents a $1.12 annualized dividend and a dividend yield of 6.55%. Kimco Realty’s dividend payout ratio is currently 72.26%.
In related news, Director Philip E. Coviello, Jr. acquired 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was purchased at an average cost of $16.46 per share, for a total transaction of $90,530.00. Following the transaction, the director now directly owns 52,965 shares of the company’s stock, valued at approximately $871,803.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.
Kimco Realty Profile
Kimco Realty Corp. (NYSE: KIM) 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 June 30, 2018, the company owned interests in 460 U.S. shopping centers comprising 79 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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