Lord Abbett & CO. LLC bought a new stake in Kimco Realty Corp (NYSE:KIM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,074,305 shares of the real estate investment trust’s stock, valued at approximately $22,292,000. Lord Abbett & CO. LLC owned 0.18% of Kimco Realty at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. MUFG Americas Holdings Corp lifted its holdings in shares of Kimco Realty by 43.2% during the 3rd quarter. MUFG Americas Holdings Corp now owns 1,432 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 432 shares in the last quarter. Murphy Pohlad Asset Management LLC lifted its stake in Kimco Realty by 0.3% in the third quarter. Murphy Pohlad Asset Management LLC now owns 178,600 shares of the real estate investment trust’s stock valued at $3,705,000 after buying an additional 500 shares in the last quarter. Allworth Financial LP lifted its stake in Kimco Realty by 53.4% in the third quarter. Allworth Financial LP now owns 1,566 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 545 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Kimco Realty by 7.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,362 shares of the real estate investment trust’s stock valued at $174,000 after buying an additional 577 shares during the period. Finally, Arkadios Wealth Advisors increased its position in shares of Kimco Realty by 23.8% during the third quarter. Arkadios Wealth Advisors now owns 3,798 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 729 shares in the last quarter. Institutional investors own 90.27% of the company’s stock.
A number of equities analysts recently weighed in on KIM shares. Stifel Nicolaus raised shares of Kimco Realty from a “hold” rating to a “buy” rating and upped their target price for the stock from $25.50 to $27.00 in a research note on Monday, November 22nd. Robert W. Baird increased their price objective on Kimco Realty from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 1st. Argus raised Kimco Realty from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, January 5th. Truist upped their price target on Kimco Realty from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, December 10th. Finally, Citigroup lifted their price objective on shares of Kimco Realty from $26.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $25.81.
Shares of KIM opened at $25.01 on Friday. The company has a market cap of $15.42 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The firm has a 50-day moving average of $23.78 and a 200-day moving average of $22.44. Kimco Realty Corp has a one year low of $15.91 and a one year high of $25.62.
Kimco Realty (NYSE:KIM) last issued its earnings results on Friday, November 5th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.61. The business had revenue of $368.00 million during the quarter, compared to the consensus estimate of $281.88 million. Kimco Realty had a net margin of 79.68% and a return on equity of 14.10%. Kimco Realty’s revenue was up 43.4% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. As a group, analysts expect that Kimco Realty Corp will post 1.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 23rd. Investors of record on Thursday, December 9th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Wednesday, December 8th. Kimco Realty’s payout ratio is presently 35.60%.
Kimco Realty Company 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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