Piedmont Investment Advisors Inc. cut its stake in Kimco Realty Corp (NYSE:KIM) by 59.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,969 shares of the real estate investment trust’s stock after selling 104,810 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Kimco Realty were worth $1,222,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. grew its stake in shares of Kimco Realty by 6.0% during the second quarter. OppenheimerFunds Inc. now owns 140,984 shares of the real estate investment trust’s stock valued at $2,395,000 after acquiring an additional 8,022 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Kimco Realty by 6.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 533,500 shares of the real estate investment trust’s stock valued at $8,930,000 after acquiring an additional 30,000 shares in the last quarter. Meadow Creek Investment Management LLC grew its stake in shares of Kimco Realty by 1,385.7% during the second quarter. Meadow Creek Investment Management LLC now owns 323,268 shares of the real estate investment trust’s stock valued at $5,492,000 after acquiring an additional 301,510 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Kimco Realty during the second quarter valued at about $1,484,000. Finally, Oakbrook Investments LLC grew its stake in shares of Kimco Realty by 37.5% during the third quarter. Oakbrook Investments LLC now owns 23,851 shares of the real estate investment trust’s stock valued at $399,000 after acquiring an additional 6,500 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors.
KIM has been the subject of several recent analyst reports. ValuEngine upgraded Kimco Realty from a “strong sell” rating to a “sell” rating in a research note on Friday, October 26th. Wells Fargo & Co raised their target price on Kimco Realty from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Stifel Nicolaus restated a “hold” rating and set a $17.00 target price on shares of Kimco Realty in a research note on Friday, July 27th. Sandler O’Neill restated a “hold” rating and set a $18.00 target price on shares of Kimco Realty in a research note on Friday, July 27th. Finally, Scotiabank initiated coverage on Kimco Realty in a research note on Tuesday, October 16th. They set an “underperform” rating for the company. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.15.
NYSE:KIM opened at $15.54 on Tuesday. The stock has a market capitalization of $6.62 billion, a P/E ratio of 10.61, a PEG ratio of 3.09 and a beta of 0.33. Kimco Realty Corp has a one year low of $13.16 and a one year high of $19.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.09 and a quick ratio of 0.09.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.17). The firm had revenue of $283.08 million during the quarter, compared to analyst estimates of $281.73 million. Kimco Realty had a return on equity of 8.74% and a net margin of 40.14%. On average, analysts predict that Kimco Realty Corp will post 1.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be paid a $0.28 dividend. The ex-dividend date is Monday, December 31st. This represents a $1.12 dividend on an annualized basis and a yield of 7.21%. Kimco Realty’s dividend payout ratio (DPR) is 72.26%.
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Kimco Realty Profile
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 June 30, 2018, the company owned interests in 460 U.S. shopping centers comprising 79 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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