IFP Advisors Inc trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 39.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,680 shares of the real estate investment trust’s stock after selling 4,292 shares during the quarter. IFP Advisors Inc’s holdings in Kimco Realty were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Kimco Realty by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 67,760,834 shares of the real estate investment trust’s stock worth $1,412,813,000 after buying an additional 978,986 shares during the last quarter. BlackRock Inc. grew its stake in Kimco Realty by 0.5% during the 2nd quarter. BlackRock Inc. now owns 38,194,108 shares of the real estate investment trust’s stock worth $796,347,000 after buying an additional 172,330 shares during the last quarter. State Street Corp grew its stake in Kimco Realty by 6.2% during the 2nd quarter. State Street Corp now owns 24,901,763 shares of the real estate investment trust’s stock worth $519,202,000 after buying an additional 1,450,905 shares during the last quarter. Resolution Capital Ltd grew its stake in Kimco Realty by 42.0% during the 2nd quarter. Resolution Capital Ltd now owns 19,180,185 shares of the real estate investment trust’s stock worth $399,907,000 after buying an additional 5,676,364 shares during the last quarter. Finally, FMR LLC grew its stake in Kimco Realty by 0.8% during the 2nd quarter. FMR LLC now owns 8,936,274 shares of the real estate investment trust’s stock worth $186,322,000 after buying an additional 73,544 shares during the last quarter. Hedge funds and other institutional investors own 69.09% of the company’s stock.
In related news, CAO Paul Westbrook sold 4,000 shares of the company’s stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $23.81, for a total value of $95,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.
Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Friday, November 5th. The real estate investment trust reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.61. The company had revenue of $368.00 million during the quarter, compared to analysts’ expectations of $281.88 million. Kimco Realty had a return on equity of 14.10% and a net margin of 79.68%. Kimco Realty’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, research analysts expect that Kimco Realty Corp will post 1.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 23rd. Investors of record on Thursday, December 9th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, December 8th. This represents a $0.68 dividend on an annualized basis and a yield of 2.79%. Kimco Realty’s payout ratio is 35.60%.
KIM has been the topic of several research analyst reports. Truist boosted their target price on Kimco Realty from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 30th. BTIG Research reaffirmed a “hold” rating on shares of Kimco Realty in a research report on Sunday, September 26th. Morgan Stanley lifted their price target on Kimco Realty from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. Stifel Nicolaus raised Kimco Realty from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.50 to $27.00 in a research report on Monday. Finally, Wolfe Research began coverage on Kimco Realty in a research report on Thursday, September 23rd. They set a “market perform” rating and a $24.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $23.50.
Kimco Realty Company 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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