Raymond James Financial Services Advisors Inc. decreased its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 59.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 33,734 shares of the real estate investment trust’s stock after selling 50,241 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Kimco Realty were worth $624,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG lifted its stake in Kimco Realty by 468.0% during the 4th quarter. Deutsche Bank AG now owns 5,837,415 shares of the real estate investment trust’s stock valued at $85,510,000 after acquiring an additional 4,809,739 shares during the period. Norges Bank purchased a new stake in shares of Kimco Realty during the fourth quarter worth $69,738,000. Bank of New York Mellon Corp grew its holdings in shares of Kimco Realty by 17.0% during the fourth quarter. Bank of New York Mellon Corp now owns 18,850,346 shares of the real estate investment trust’s stock worth $276,157,000 after buying an additional 2,739,388 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Kimco Realty by 24.4% during the fourth quarter. Northern Trust Corp now owns 8,312,885 shares of the real estate investment trust’s stock worth $121,785,000 after buying an additional 1,629,720 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Kimco Realty by 135,304.8% in the fourth quarter. Bessemer Group Inc. now owns 1,466,434 shares of the real estate investment trust’s stock valued at $21,483,000 after purchasing an additional 1,465,351 shares during the period. 90.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of KIM opened at $18.38 on Thursday. Kimco Realty Corp has a 52-week low of $14.29 and a 52-week high of $18.64. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.92.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.12). Kimco Realty had a return on equity of 8.37% and a net margin of 39.40%. The company had revenue of $295.00 million for the quarter, compared to the consensus estimate of $282.49 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. Kimco Realty’s quarterly revenue was down 3.0% compared to the same quarter last year. Sell-side analysts expect that Kimco Realty Corp will post 1.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a $0.28 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.12 annualized dividend and a dividend yield of 6.09%. Kimco Realty’s dividend payout ratio (DPR) is 77.24%.
In other Kimco Realty news, COO David Jamieson sold 16,435 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $18.33, for a total value of $301,253.55. Following the transaction, the chief operating officer now directly owns 94,211 shares of the company’s stock, valued at approximately $1,726,887.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard B. Saltzman sold 5,500 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.39, for a total value of $101,145.00. Following the completion of the transaction, the director now directly owns 81,335 shares in the company, valued at $1,495,750.65. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Several analysts have recently issued reports on the stock. Bank of America raised shares of Kimco Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $21.00 in a research report on Tuesday. Raymond James cut shares of Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 target price on the stock. in a report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, May 1st. Finally, Evercore ISI lowered shares of Kimco Realty from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.36.
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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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