BlackRock Inc. cut its stake in shares of Kimco Realty Corp (NYSE:KIM) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 39,799,830 shares of the real estate investment trust’s stock after selling 495,014 shares during the quarter. BlackRock Inc. owned 0.09% of Kimco Realty worth $735,501,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. lifted its position in Kimco Realty by 21.6% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,550 shares of the real estate investment trust’s stock valued at $453,000 after purchasing an additional 4,368 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in Kimco Realty by 80.5% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 4,841,819 shares of the real estate investment trust’s stock valued at $762,014,000 after acquiring an additional 2,159,780 shares during the period. California Public Employees Retirement System raised its holdings in Kimco Realty by 6.7% during the second quarter. California Public Employees Retirement System now owns 962,040 shares of the real estate investment trust’s stock valued at $17,778,000 after acquiring an additional 60,108 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Kimco Realty by 18.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,719 shares of the real estate investment trust’s stock valued at $272,000 after acquiring an additional 2,250 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in Kimco Realty during the second quarter valued at about $1,836,000. Institutional investors own 89.10% of the company’s stock.
In other news, Director Richard B. Saltzman sold 5,000 shares of Kimco Realty stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.06, for a total value of $100,300.00. Following the sale, the director now directly owns 80,835 shares of the company’s stock, valued at $1,621,550.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.90% of the company’s stock.
Shares of KIM stock opened at $20.85 on Friday. Kimco Realty Corp has a 12-month low of $14.29 and a 12-month high of $21.82. The stock’s 50-day moving average price is $20.84 and its 200-day moving average price is $19.08. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 3.84 and a beta of 0.57.
Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.22). Kimco Realty had a return on equity of 7.36% and a net margin of 33.95%. The firm had revenue of $282.90 million during the quarter, compared to the consensus estimate of $281.51 million. During the same period last year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast that Kimco Realty Corp will post 1.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.28 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.12 annualized dividend and a dividend yield of 5.37%. Kimco Realty’s dividend payout ratio (DPR) is 77.24%.
KIM has been the topic of a number of recent analyst reports. Capital One Financial cut Kimco Realty from an “overweight” rating to an “equal weight” rating and set a $21.00 price target on the stock. in a report on Wednesday, October 23rd. Compass Point cut Kimco Realty from a “neutral” rating to a “sell” rating and decreased their price target for the company from $19.00 to $17.75 in a report on Wednesday, September 4th. ValuEngine raised Kimco Realty from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price target on Kimco Realty from $14.50 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Finally, Citigroup raised their price target on Kimco Realty from $18.00 to $18.50 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Kimco Realty presently has an average rating of “Hold” and an average target price of $18.80.
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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