BlackRock Inc. decreased its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,799,830 shares of the real estate investment trust’s stock after selling 495,014 shares during the period. BlackRock Inc. owned 9.43% of Kimco Realty worth $735,501,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atlas Capital Advisors LLC raised its position in shares of Kimco Realty by 11.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 16,021 shares of the real estate investment trust’s stock worth $296,000 after acquiring an additional 1,652 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of Kimco Realty in the 2nd quarter worth approximately $617,000. Ontario Teachers Pension Plan Board bought a new position in shares of Kimco Realty in the 2nd quarter worth approximately $5,048,000. Bank of Montreal Can raised its position in shares of Kimco Realty by 159.4% in the 2nd quarter. Bank of Montreal Can now owns 409,852 shares of the real estate investment trust’s stock worth $7,574,000 after acquiring an additional 251,841 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Kimco Realty by 4.4% in the 2nd quarter. Private Advisor Group LLC now owns 36,386 shares of the real estate investment trust’s stock worth $672,000 after acquiring an additional 1,524 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.
KIM stock opened at $20.85 on Friday. Kimco Realty Corp has a twelve month low of $14.29 and a twelve month high of $21.82. The firm has a market cap of $8.79 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 3.84 and a beta of 0.57. The business has a 50 day moving average of $20.84 and a 200 day moving average of $19.08.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.22). Kimco Realty had a net margin of 33.95% and a return on equity of 7.36%. The company had revenue of $282.90 million for the quarter, compared to the consensus estimate of $281.51 million. During the same period last year, the business earned $0.36 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts predict that Kimco Realty Corp will post 1.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Tuesday, December 31st. Kimco Realty’s dividend payout ratio (DPR) is presently 77.24%.
In related news, Director Richard B. Saltzman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $20.06, for a total transaction of $100,300.00. Following the completion of the transaction, the director now owns 80,835 shares of the company’s stock, valued at approximately $1,621,550.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by company insiders.
Several research analysts have recently issued reports on KIM shares. Capital One Financial lowered Kimco Realty from an “overweight” rating to an “equal weight” rating and set a $21.00 target price for the company. in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered Kimco Realty from an “outperform” rating to a “sector perform” rating and set a $19.00 target price for the company. in a research report on Thursday, August 22nd. Citigroup increased their target price on Kimco Realty from $18.00 to $18.50 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Compass Point lowered Kimco Realty from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $19.00 to $17.75 in a research report on Wednesday, September 4th. Finally, ValuEngine raised Kimco Realty from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Kimco Realty presently has a consensus rating of “Hold” and a consensus price target of $18.80.
Kimco Realty 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.
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