Douglas Lane & Associates LLC increased its stake in shares of Kimco Realty Corp (NYSE:KIM) by 2.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,422,663 shares of the real estate investment trust’s stock after buying an additional 40,385 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Kimco Realty were worth $26,675,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in KIM. Truist Financial Corp raised its holdings in shares of Kimco Realty by 12.4% in the 3rd quarter. Truist Financial Corp now owns 26,801 shares of the real estate investment trust’s stock worth $302,000 after purchasing an additional 2,964 shares during the period. Jeppson Wealth Management LLC purchased a new stake in Kimco Realty in the 3rd quarter worth about $48,000. Mercer Global Advisors Inc. ADV raised its stake in Kimco Realty by 305.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 141,499 shares of the real estate investment trust’s stock valued at $1,593,000 after acquiring an additional 106,565 shares during the period. Virtu Financial LLC purchased a new stake in Kimco Realty during the third quarter valued at about $175,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of Kimco Realty by 21.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the real estate investment trust’s stock worth $402,000 after purchasing an additional 4,800 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Kimco Realty from $15.90 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, March 3rd. Robert W. Baird restated an “outperform” rating on shares of Kimco Realty in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on Kimco Realty from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, April 15th. Truist increased their price target on shares of Kimco Realty from $18.00 to $20.00 in a research report on Friday, March 5th. Finally, Mizuho upped their price objective on shares of Kimco Realty from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Kimco Realty presently has a consensus rating of “Buy” and a consensus price target of $16.23.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Wednesday, February 10th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.35. Kimco Realty had a net margin of 83.81% and a return on equity of 17.35%. Equities research analysts predict that Kimco Realty Corp will post 1.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 24th. Investors of record on Wednesday, March 10th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 9th. This represents a $0.68 annualized dividend and a dividend yield of 3.46%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.16. Kimco Realty’s dividend payout ratio (DPR) is 46.26%.
Kimco Realty Profile
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.
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