Kimco Realty Corporation (NYSE:KIM) Stake Decreased by Texas Permanent School Fund

Texas Permanent School Fund cut its stake in Kimco Realty Corporation (NYSE:KIM) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 119,597 shares of the real estate investment trust’s stock after selling 4,765 shares during the period. Texas Permanent School Fund’s holdings in Kimco Realty Corporation were worth $2,195,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Creative Planning boosted its stake in shares of Kimco Realty Corporation by 31.8% in the second quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 2,715 shares during the period. Private Asset Management Inc. boosted its stake in shares of Kimco Realty Corporation by 1.8% in the second quarter. Private Asset Management Inc. now owns 11,338 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 200 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Kimco Realty Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 9,930 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 504 shares during the period. Global X Management Co. LLC boosted its stake in shares of Kimco Realty Corporation by 30.5% in the first quarter. Global X Management Co. LLC now owns 9,861 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 2,304 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Kimco Realty Corporation by 3.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,177 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 420 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

Shares of Kimco Realty Corporation (NYSE:KIM) opened at 20.46 on Friday. Kimco Realty Corporation has a 12 month low of $17.02 and a 12 month high of $30.71. The firm has a market cap of $8.71 billion, a PE ratio of 41.67 and a beta of 0.67. The firm has a 50 day moving average price of $19.21 and a 200-day moving average price of $20.99.

Kimco Realty Corporation (NYSE:KIM) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.07. The firm had revenue of $292.84 million for the quarter, compared to the consensus estimate of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. Kimco Realty Corporation’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. On average, analysts predict that Kimco Realty Corporation will post $0.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio (DPR) is presently 220.41%.

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A number of research firms recently issued reports on KIM. Zacks Investment Research raised Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub raised Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup Inc. reissued a “neutral” rating and set a $19.50 price objective (down previously from $21.00) on shares of Kimco Realty Corporation in a research report on Monday, July 10th. TheStreet cut Kimco Realty Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, April 26th. Finally, Barclays PLC reissued an “overweight” rating and set a $23.00 price objective (up previously from $22.00) on shares of Kimco Realty Corporation in a research report on Monday, July 10th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kimco Realty Corporation currently has an average rating of “Buy” and a consensus target price of $27.15.

In other news, Director Philip E. Coviello, Jr. bought 20,000 shares of the stock in a transaction on Monday, June 5th. The stock was purchased at an average price of $17.37 per share, for a total transaction of $347,400.00. Following the acquisition, the director now owns 41,045 shares in the company, valued at $712,951.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Kimco Realty Corporation Company Profile

Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.

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Institutional Ownership by Quarter for Kimco Realty Corporation (NYSE:KIM)

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