Goldman Sachs Group Inc. boosted its stake in Kimco Realty Corp (NYSE:KIM) by 12.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,266,477 shares of the real estate investment trust’s stock after buying an additional 455,435 shares during the period. Goldman Sachs Group Inc. owned 1.00% of Kimco Realty worth $77,436,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in KIM. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Kimco Realty during the fourth quarter valued at approximately $55,085,000. Bank of New York Mellon Corp boosted its holdings in Kimco Realty by 11.7% in the fourth quarter. Bank of New York Mellon Corp now owns 18,745,745 shares of the real estate investment trust’s stock worth $340,235,000 after purchasing an additional 1,959,743 shares during the last quarter. Security Capital Research & Management Inc. boosted its holdings in Kimco Realty by 67.7% in the fourth quarter. Security Capital Research & Management Inc. now owns 2,768,305 shares of the real estate investment trust’s stock worth $50,245,000 after purchasing an additional 1,117,717 shares during the last quarter. Coronation Fund Managers Ltd. boosted its holdings in Kimco Realty by 354.5% in the fourth quarter. Coronation Fund Managers Ltd. now owns 1,159,223 shares of the real estate investment trust’s stock worth $21,040,000 after purchasing an additional 904,171 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in Kimco Realty by 71.5% in the fourth quarter. Private Management Group Inc. now owns 1,869,804 shares of the real estate investment trust’s stock worth $33,937,000 after purchasing an additional 779,359 shares during the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.
NYSE:KIM traded down $0.33 during mid-day trading on Friday, hitting $14.33. 3,701,511 shares of the stock traded hands, compared to its average volume of 4,509,322. The company has a market capitalization of $6,237.18, a price-to-earnings ratio of 9.25, a PEG ratio of 3.01 and a beta of 0.50. Kimco Realty Corp has a 52 week low of $13.69 and a 52 week high of $23.03. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.16.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.21). The firm had revenue of $310.63 million for 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 business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. equities analysts forecast that Kimco Realty Corp will post 1.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Tuesday, April 3rd will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $1.12 annualized dividend and a yield of 7.82%. Kimco Realty’s dividend payout ratio (DPR) is 72.26%.
Kimco Realty declared that its board has approved a stock repurchase program on Thursday, February 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several brokerages recently issued reports on KIM. ValuEngine cut shares of Kimco Realty from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Bank of America cut shares of Kimco Realty from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research note on Friday, February 16th. Zacks Investment Research cut shares of Kimco Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. SunTrust Banks set a $18.00 target price on shares of Kimco Realty and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Morgan Stanley cut shares of Kimco Realty from an “overweight” rating to an “equal” rating in a research note on Tuesday, March 27th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.52.
In other news, Director Frank Lourenso sold 3,380 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $15.29, for a total value of $51,680.20. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by 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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