Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 63.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 303,474 shares of the real estate investment trust’s stock after selling 520,285 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Kimco Realty worth $3,897,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in KIM. Perella Weinberg Partners Capital Management LP acquired a new stake in shares of Kimco Realty in the second quarter valued at about $1,347,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Kimco Realty by 7.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 33,664 shares of the real estate investment trust’s stock worth $432,000 after purchasing an additional 2,449 shares during the last quarter. Paragon Capital Management Ltd acquired a new position in shares of Kimco Realty during the 2nd quarter worth approximately $214,000. Dupont Capital Management Corp raised its stake in shares of Kimco Realty by 741.2% during the 2nd quarter. Dupont Capital Management Corp now owns 103,786 shares of the real estate investment trust’s stock worth $1,333,000 after purchasing an additional 91,448 shares in the last quarter. Finally, Arrow Investment Advisors LLC acquired a new stake in shares of Kimco Realty in the 2nd quarter valued at approximately $220,000. Institutional investors own 90.93% of the company’s stock.
In related news, insider Realty Corp Kimco sold 4,675,726 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.27, for a total transaction of $71,398,336.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by insiders.
A number of brokerages have commented on KIM. Morgan Stanley increased their price target on shares of Kimco Realty from $7.50 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, July 2nd. Deutsche Bank upgraded shares of Kimco Realty from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, July 6th. Goldman Sachs Group assumed coverage on Kimco Realty in a research report on Wednesday, July 1st. They set a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Kimco Realty from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Compass Point upgraded Kimco Realty from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $13.00 in a research note on Wednesday, July 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Kimco Realty presently has a consensus rating of “Hold” and an average target price of $14.80.
Shares of Kimco Realty stock opened at $11.15 on Friday. The firm has a 50-day moving average of $12.31 and a 200-day moving average of $13.60. The stock has a market cap of $4.82 billion, a PE ratio of 7.59, a PEG ratio of 7.87 and a beta of 1.24. Kimco Realty Corp has a 52-week low of $7.45 and a 52-week high of $21.86. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.01 and a current ratio of 2.01.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Friday, May 8th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Kimco Realty had a net margin of 33.33% and a return on equity of 7.64%. The business had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $283.35 million. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue was down 3.5% on a year-over-year basis. Equities research analysts predict that Kimco Realty Corp will post 1.18 earnings per share for the current fiscal year.
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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