Rational Advisors LLC cut its stake in shares of Kimco Realty Corporation (NYSE:KIM) by 77.5% during the second quarter, Holdings Channel reports. The institutional investor owned 6,868 shares of the real estate investment trust’s stock after selling 23,700 shares during the period. Rational Advisors LLC’s holdings in Kimco Realty Corporation were worth $126,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KIM. Rhumbline Advisers boosted its position in Kimco Realty Corporation by 0.8% in the second quarter. Rhumbline Advisers now owns 812,680 shares of the real estate investment trust’s stock valued at $14,913,000 after buying an additional 6,524 shares in the last quarter. First Trust Advisors LP boosted its position in Kimco Realty Corporation by 190.9% in the second quarter. First Trust Advisors LP now owns 1,573,882 shares of the real estate investment trust’s stock valued at $28,881,000 after buying an additional 1,032,844 shares in the last quarter. New Jersey Better Educational Savings Trust bought a new position in Kimco Realty Corporation during the second quarter valued at $459,000. Schwab Charles Investment Management Inc. boosted its position in Kimco Realty Corporation by 11.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,547,968 shares of the real estate investment trust’s stock valued at $65,106,000 after buying an additional 354,057 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Kimco Realty Corporation by 25.6% in the second quarter. Canada Pension Plan Investment Board now owns 1,276,466 shares of the real estate investment trust’s stock valued at $23,423,000 after buying an additional 259,800 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.
Kimco Realty Corporation (KIM) opened at 19.67 on Wednesday. Kimco Realty Corporation has a one year low of $17.02 and a one year high of $30.71. The company has a market capitalization of $8.37 billion, a PE ratio of 40.06 and a beta of 0.67. The stock’s 50 day moving average is $19.37 and its 200 day moving average is $20.81.
Kimco Realty Corporation (NYSE:KIM) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.07. Kimco Realty Corporation had a net margin of 21.77% and a return on equity of 4.68%. The business had revenue of $292.84 million during the quarter, compared to the consensus estimate of $290.95 million. During the same period last year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts anticipate that Kimco Realty Corporation will post $0.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio (DPR) is currently 220.41%.
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Several research firms have weighed in on KIM. Citigroup Inc. increased their price target on shares of Kimco Realty Corporation from $19.50 to $21.00 and gave the company a “neutral” rating in a report on Monday. BidaskClub raised shares of Kimco Realty Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and issued a $25.00 price target on shares of Kimco Realty Corporation in a report on Friday, August 4th. Zacks Investment Research raised shares of Kimco Realty Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Boenning Scattergood reissued a “hold” rating on shares of Kimco Realty Corporation in a report on Friday, July 28th. Nine 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. The company currently has a consensus rating of “Buy” and a consensus target price of $27.28.
In other Kimco Realty Corporation news, Director Philip E. Coviello, Jr. purchased 20,000 shares of the stock in a transaction dated Monday, June 5th. The shares were bought at an average price of $17.37 per share, with a total value of $347,400.00. Following the completion of the transaction, the director now directly owns 41,045 shares in the company, valued at approximately $712,951.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.
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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