Meitav Dash Investments Ltd. bought a new position in Kimco Realty Corp (NYSE:KIM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 32,778 shares of the real estate investment trust’s stock, valued at approximately $602,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Kimco Realty by 9.5% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,617 shares of the real estate investment trust’s stock worth $677,000 after purchasing an additional 2,994 shares during the last quarter. Cascade Investment Advisors Inc. grew its holdings in shares of Kimco Realty by 9.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 38,075 shares of the real estate investment trust’s stock worth $691,000 after purchasing an additional 3,175 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Kimco Realty by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 652,182 shares of the real estate investment trust’s stock worth $12,750,000 after purchasing an additional 3,299 shares during the last quarter. Norinchukin Bank The grew its holdings in shares of Kimco Realty by 15.1% in the 3rd quarter. Norinchukin Bank The now owns 34,011 shares of the real estate investment trust’s stock worth $665,000 after purchasing an additional 4,472 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. grew its holdings in shares of Kimco Realty by 1.2% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 371,941 shares of the real estate investment trust’s stock worth $7,271,000 after purchasing an additional 4,544 shares during the last quarter. 90.58% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on KIM. Mizuho set a $20.00 target price on shares of Kimco Realty and gave the stock a “hold” rating in a report on Monday, December 18th. Robert W. Baird lowered shares of Kimco Realty from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $20.00 in a report on Monday, November 27th. Stifel Nicolaus began coverage on shares of Kimco Realty in a report on Thursday, November 30th. They set a “hold” rating and a $19.50 price objective on the stock. JPMorgan Chase & Co. lowered shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a report on Friday, December 15th. Finally, Zacks Investment Research lowered shares of Kimco Realty from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $19.52.
Kimco Realty stock opened at $14.14 on Thursday. The stock has a market cap of $6,028.70, a PE ratio of 16.25, a PEG ratio of 2.91 and a beta of 0.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.09 and a quick ratio of 0.09. Kimco Realty Corp has a one year low of $13.70 and a one year high of $23.03.
Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). The business had revenue of $310.63 million during the quarter, compared to the consensus estimate of $297.92 million. Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. sell-side analysts expect that Kimco Realty Corp will post 1.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.92%. The ex-dividend date is Monday, April 2nd. Kimco Realty’s dividend payout ratio (DPR) is presently 128.74%.
Kimco Realty declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, Director Frank Lourenso sold 3,380 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $15.29, for a total value of $51,680.20. Following the transaction, the director now owns 182,481 shares of the company’s stock, valued at approximately $2,790,134.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company insiders.
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Kimco Realty 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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