Paloma Partners Management Co acquired a new position in Kimco Realty Corp (NYSE:KIM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,514 shares of the real estate investment trust’s stock, valued at approximately $705,000.
Several other large investors have also recently made changes to their positions in the company. Comerica Bank raised its position in Kimco Realty by 4.5% during the first quarter. Comerica Bank now owns 124,127 shares of the real estate investment trust’s stock valued at $1,688,000 after acquiring an additional 5,305 shares in the last quarter. Aperio Group LLC raised its position in Kimco Realty by 42.9% during the first quarter. Aperio Group LLC now owns 296,343 shares of the real estate investment trust’s stock valued at $4,267,000 after acquiring an additional 88,986 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Kimco Realty by 45.3% during the first quarter. Thrivent Financial for Lutherans now owns 264,703 shares of the real estate investment trust’s stock valued at $3,812,000 after acquiring an additional 82,520 shares in the last quarter. Private Advisor Group LLC purchased a new position in Kimco Realty during the first quarter valued at approximately $251,000. Finally, KBC Group NV raised its position in Kimco Realty by 35.5% during the first quarter. KBC Group NV now owns 130,458 shares of the real estate investment trust’s stock valued at $1,879,000 after acquiring an additional 34,203 shares in the last quarter. Hedge funds and other institutional investors own 86.24% of the company’s stock.
KIM has been the subject of several recent research reports. Stifel Nicolaus reiterated a “hold” rating and set a $17.00 price target on shares of Kimco Realty in a research report on Friday, July 27th. Sandler O’Neill reiterated a “hold” rating and set a $18.00 price target on shares of Kimco Realty in a research report on Friday, July 27th. Wells Fargo & Co lifted their price target on Kimco Realty from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. upgraded Kimco Realty from a “neutral” rating to an “overweight” rating in a research report on Friday, June 15th. Finally, ValuEngine upgraded Kimco Realty from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Kimco Realty has a consensus rating of “Hold” and a consensus target price of $18.15.
Shares of Kimco Realty stock traded down $0.19 on Friday, reaching $14.81. The company’s stock had a trading volume of 5,438,132 shares, compared to its average volume of 4,429,108. The stock has a market capitalization of $7.05 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 3.63 and a beta of 0.38. Kimco Realty Corp has a 52-week low of $13.16 and a 52-week high of $19.79. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.09 and a quick ratio of 0.09.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $293.40 million during the quarter, compared to analysts’ expectations of $291.04 million. Kimco Realty had a return on equity of 9.40% and a net margin of 42.68%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. On average, equities research analysts anticipate that Kimco Realty Corp will post 1.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Tuesday, October 2nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.56%. The ex-dividend date is Monday, October 1st. Kimco Realty’s dividend payout ratio is presently 72.26%.
In other news, Director Philip E. Coviello, Jr. purchased 5,500 shares of the stock in a transaction dated Wednesday, August 1st. The shares were purchased at an average cost of $16.46 per share, with a total value of $90,530.00. Following the completion of the purchase, the director now directly owns 52,965 shares of the company’s stock, valued at approximately $871,803.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.90% of the company’s stock.
Kimco Realty Company Profile
Kimco Realty Corp. (NYSE: KIM) 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 June 30, 2018, the company owned interests in 460 U.S. shopping centers comprising 79 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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