AE Wealth Management LLC Invests $4.65 Million in Kimco Realty Corporation $KIM

AE Wealth Management LLC acquired a new stake in shares of Kimco Realty Corporation (NYSE:KIM) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 212,971 shares of the real estate investment trust’s stock, valued at approximately $4,653,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in Kimco Realty in the 2nd quarter worth approximately $13,358,000. iA Global Asset Management Inc. purchased a new position in shares of Kimco Realty in the third quarter worth $1,100,000. D.A. Davidson & CO. lifted its holdings in shares of Kimco Realty by 71.0% in the second quarter. D.A. Davidson & CO. now owns 16,810 shares of the real estate investment trust’s stock worth $353,000 after buying an additional 6,982 shares in the last quarter. Pacific Heights Asset Management LLC boosted its position in shares of Kimco Realty by 66.7% during the third quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust’s stock worth $10,925,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Kimco Realty during the second quarter valued at $332,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Trading Up 1.7%

Shares of NYSE KIM opened at $21.06 on Friday. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $23.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.59 and a quick ratio of 3.59. The business’s 50 day moving average is $20.46 and its two-hundred day moving average is $21.15. The stock has a market capitalization of $14.26 billion, a P/E ratio of 25.37, a PEG ratio of 1.13 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The firm had revenue of $535.86 million during the quarter, compared to analysts’ expectations of $522.31 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on KIM shares. Argus reiterated a “buy” rating and issued a $27.00 price target on shares of Kimco Realty in a research note on Monday, December 1st. Citigroup decreased their target price on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Scotiabank dropped their price target on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kimco Realty in a research note on Thursday, January 22nd. Finally, Truist Financial decreased their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.89.

Kimco Realty Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.