Robeco Institutional Asset Management B.V. boosted its position in shares of Kimco Realty Corp (NYSE:KIM) by 28.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,075,402 shares of the real estate investment trust’s stock after buying an additional 239,749 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Kimco Realty were worth $19,874,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Phocas Financial Corp. grew its holdings in Kimco Realty by 8.4% during the 1st quarter. Phocas Financial Corp. now owns 37,020 shares of the real estate investment trust’s stock worth $685,000 after acquiring an additional 2,860 shares in the last quarter. Synovus Financial Corp grew its holdings in Kimco Realty by 3.5% during the 1st quarter. Synovus Financial Corp now owns 40,768 shares of the real estate investment trust’s stock worth $756,000 after acquiring an additional 1,390 shares in the last quarter. Meiji Yasuda Life Insurance Co acquired a new position in Kimco Realty during the 1st quarter worth approximately $285,000. State of Tennessee Treasury Department grew its holdings in Kimco Realty by 2.6% during the 1st quarter. State of Tennessee Treasury Department now owns 601,455 shares of the real estate investment trust’s stock worth $11,127,000 after acquiring an additional 15,178 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in Kimco Realty by 1.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 67,580 shares of the real estate investment trust’s stock worth $1,250,000 after acquiring an additional 1,277 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.
In other news, Director Frank Lourenso sold 3,380 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $18.84, for a total transaction of $63,679.20. Following the completion of the sale, the director now owns 198,106 shares in the company, valued at approximately $3,732,317.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by insiders.
Several research analysts have commented on the stock. Bank of America upgraded shares of Kimco Realty from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $21.00 in a report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, May 1st. ValuEngine cut shares of Kimco Realty from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup boosted their price target on shares of Kimco Realty from $18.00 to $18.50 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Raymond James cut shares of Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 price target for the company. in a report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $19.17.
Shares of NYSE:KIM traded up $0.06 during trading on Friday, hitting $19.06. 3,699,215 shares of the company were exchanged, compared to its average volume of 3,272,110. The stock has a market capitalization of $8.02 billion, a PE ratio of 13.14, a P/E/G ratio of 3.21 and a beta of 0.59. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.93. Kimco Realty Corp has a 12-month low of $14.29 and a 12-month high of $19.43. The company has a 50 day moving average of $18.58.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.16). The company had revenue of $284.87 million for the quarter, compared to analysts’ expectations of $281.96 million. Kimco Realty had a return on equity of 7.23% and a net margin of 34.08%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. As a group, analysts forecast that Kimco Realty Corp will post 1.47 EPS for the current fiscal year.
About Kimco Realty
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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