Northwestern Mutual Investment Management Company LLC reduced its stake in Kimco Realty Corp (NYSE:KIM) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,442 shares of the real estate investment trust’s stock after selling 18,704 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Kimco Realty were worth $1,115,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Bfsg LLC acquired a new position in shares of Kimco Realty in the first quarter valued at $190,000. Private Advisor Group LLC acquired a new position in shares of Kimco Realty in the first quarter valued at $251,000. American Asset Management Inc. acquired a new position in shares of Kimco Realty in the first quarter valued at $268,000. Wolverine Asset Management LLC acquired a new position in shares of Kimco Realty in the fourth quarter valued at $270,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of Kimco Realty in the fourth quarter valued at $300,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.
KIM has been the topic of several research reports. ValuEngine downgraded shares of Kimco Realty from a “hold” rating to a “sell” rating in a report on Thursday, April 19th. Deutsche Bank reduced their target price on shares of Kimco Realty from $21.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, March 19th. Evercore ISI cut shares of Kimco Realty from an “in-line” rating to an “underperform” rating in a research report on Monday, March 5th. Zacks Investment Research raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a research report on Monday, May 7th. Finally, JPMorgan Chase & Co. raised shares of Kimco Realty from a “neutral” rating to an “overweight” rating in a research report on Friday, June 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Kimco Realty has an average rating of “Hold” and a consensus price target of $18.31.
Shares of Kimco Realty opened at $16.46 on Wednesday, MarketBeat.com reports. The stock has a market capitalization of $6.95 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 3.42 and a beta of 0.52. Kimco Realty Corp has a 52-week low of $13.16 and a 52-week high of $21.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.09 and a quick ratio of 0.09.
Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, April 26th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). The firm had revenue of $304.08 million during the quarter, compared to the consensus estimate of $298.97 million. Kimco Realty had a return on equity of 9.03% and a net margin of 40.74%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. analysts anticipate that Kimco Realty Corp will post 1.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Tuesday, July 3rd will be given a $0.28 dividend. The ex-dividend date is Monday, July 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 6.80%. Kimco Realty’s payout ratio is 72.26%.
About Kimco Realty
Kimco Realty Corp. (NYSE: KIM) 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, 2017, the company owned interests in 492 U.S. shopping centers comprising 83 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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