State Street Corp decreased its stake in Kimco Realty Corporation (NYSE:KIM) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,196,689 shares of the real estate investment trust’s stock after selling 507,508 shares during the period. State Street Corp owned 5.92% of Kimco Realty Corporation worth $462,367,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Kimco Realty Corporation by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 790 shares in the last quarter. Carnegie Capital Asset Management LLC bought a new position in shares of Kimco Realty Corporation in the 2nd quarter valued at about $204,000. Creative Planning grew its holdings in shares of Kimco Realty Corporation by 31.8% in the 2nd quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock valued at $207,000 after acquiring an additional 2,715 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in shares of Kimco Realty Corporation by 5.6% in the 2nd quarter. First Allied Advisory Services Inc. now owns 10,550 shares of the real estate investment trust’s stock valued at $207,000 after acquiring an additional 564 shares in the last quarter. Finally, Private Asset Management Inc. grew its holdings in shares of Kimco Realty Corporation by 1.8% in the 2nd quarter. Private Asset Management Inc. now owns 11,338 shares of the real estate investment trust’s stock valued at $208,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.
Several brokerages have recently weighed in on KIM. Zacks Investment Research upgraded Kimco Realty Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub upgraded Kimco Realty Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Citigroup Inc. reiterated a “neutral” rating and set a $19.50 price target (down previously from $21.00) on shares of Kimco Realty Corporation in a report on Monday, July 10th. Argus cut Kimco Realty Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 28th. They noted that the move was a valuation call. Finally, BMO Capital Markets assumed coverage on Kimco Realty Corporation in a report on Monday, September 11th. They set a “market perform” rating and a $21.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.43.
Shares of Kimco Realty Corporation (NYSE KIM) opened at 19.33 on Friday. The company has a market cap of $8.23 billion, a PE ratio of 39.37 and a beta of 0.67. The stock’s 50 day moving average price is $19.66 and its 200-day moving average price is $19.68. Kimco Realty Corporation has a one year low of $17.02 and a one year high of $28.52.
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 for the quarter, missing the Zacks’ 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 company had revenue of $292.84 million for the quarter, compared to the consensus estimate of $290.95 million. During the same period in the prior year, the company earned $0.37 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Kimco Realty Corporation will post $0.70 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio is currently 220.41%.
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.
Receive News & Ratings for Kimco Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimco Realty Corporation and related companies with MarketBeat.com's FREE daily email newsletter.