Foundry Partners LLC increased its stake in Kimco Realty Corp (NYSE:KIM) by 18.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 449,575 shares of the real estate investment trust’s stock after purchasing an additional 70,250 shares during the period. Foundry Partners LLC owned 0.11% of Kimco Realty worth $7,526,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in KIM. Dimensional Fund Advisors LP raised its stake in Kimco Realty by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,733,733 shares of the real estate investment trust’s stock valued at $114,407,000 after acquiring an additional 110,939 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Kimco Realty by 7.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,118,022 shares of the real estate investment trust’s stock valued at $86,956,000 after acquiring an additional 348,478 shares in the last quarter. Private Management Group Inc. raised its stake in Kimco Realty by 0.8% during the 2nd quarter. Private Management Group Inc. now owns 3,846,749 shares of the real estate investment trust’s stock valued at $65,356,000 after acquiring an additional 30,080 shares in the last quarter. American Century Companies Inc. bought a new stake in Kimco Realty during the 2nd quarter valued at $60,902,000. Finally, Bank of America Corp DE raised its stake in Kimco Realty by 46.1% during the 2nd quarter. Bank of America Corp DE now owns 3,463,682 shares of the real estate investment trust’s stock valued at $58,848,000 after acquiring an additional 1,093,404 shares in the last quarter. 85.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE KIM traded down $0.01 during mid-day trading on Friday, reaching $16.28. The company had a trading volume of 1,794,976 shares, compared to its average volume of 4,408,974. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 3.19 and a beta of 0.33. Kimco Realty Corp has a 1-year low of $13.16 and a 1-year high of $19.53.
Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 25th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.17). The company had revenue of $283.08 million during the quarter, compared to analyst estimates of $281.73 million. Kimco Realty had a return on equity of 8.74% and a net margin of 40.14%. As a group, analysts anticipate that Kimco Realty Corp will post 1.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, December 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.88%. Kimco Realty’s dividend payout ratio is 72.26%.
Several brokerages have recently issued reports on KIM. 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. ValuEngine upgraded Kimco Realty from a “strong sell” rating to a “sell” rating in a research report on Friday, October 26th. 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. Finally, Scotiabank began coverage on Kimco Realty in a research report on Tuesday, October 16th. They set an “underperform” rating on the stock. Three investment 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 an average target price of $18.15.
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About Kimco Realty
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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