abrdn plc Purchases 98,729 Shares of Kimco Realty Corp (NYSE:KIM)

abrdn plc increased its position in Kimco Realty Corp (NYSE:KIM) by 8.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,316,266 shares of the real estate investment trust’s stock after buying an additional 98,729 shares during the quarter. abrdn plc’s holdings in Kimco Realty were worth $30,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of Kimco Realty in the 1st quarter worth approximately $200,043,000. Vanguard Group Inc. grew its holdings in shares of Kimco Realty by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after purchasing an additional 7,931,013 shares during the last quarter. Centersquare Investment Management LLC raised its position in Kimco Realty by 76.8% in the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after purchasing an additional 6,282,891 shares during the period. Janus Henderson Group PLC boosted its position in Kimco Realty by 3,711.4% during the first quarter. Janus Henderson Group PLC now owns 2,828,917 shares of the real estate investment trust’s stock valued at $55,462,000 after buying an additional 2,754,695 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Kimco Realty by 43.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust’s stock valued at $154,583,000 after buying an additional 2,400,752 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Insider Activity

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Evercore ISI raised their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank upped their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. JPMorgan Chase & Co. increased their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Mizuho cut shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $23.00 in a research report on Monday, August 19th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.

Kimco Realty Stock Up 1.5 %

KIM stock opened at $24.02 on Thursday. Kimco Realty Corp has a fifty-two week low of $17.31 and a fifty-two week high of $24.67. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 45.32, a price-to-earnings-growth ratio of 4.10 and a beta of 1.50. The business’s 50 day moving average price is $23.44 and its two-hundred day moving average price is $21.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. Kimco Realty’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, analysts forecast that Kimco Realty Corp will post 1.62 earnings per share for the current fiscal year.

About Kimco Realty

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.