Mark Asset Management LP acquired a new position in shares of Kimco Realty Corp (NYSE:KIM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the real estate investment trust’s stock, valued at approximately $128,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Private Capital Group LLC increased its position in Kimco Realty by 64.0% during the first quarter. Private Capital Group LLC now owns 3,494 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 1,363 shares during the last quarter. CWM Advisors LLC acquired a new stake in Kimco Realty during the first quarter worth about $37,000. CSat Investment Advisory L.P. increased its position in Kimco Realty by 92.6% during the second quarter. CSat Investment Advisory L.P. now owns 5,987 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 2,878 shares during the last quarter. Bessemer Group Inc. increased its position in Kimco Realty by 36.0% during the first quarter. Bessemer Group Inc. now owns 6,281 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 1,664 shares during the last quarter. Finally, Checchi Capital Advisers LLC purchased a new position in Kimco Realty during the first quarter worth about $100,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.
Several brokerages have weighed in on KIM. Goldman Sachs Group began coverage on shares of Kimco Realty in a research note on Wednesday, July 1st. They set a “buy” rating and a $15.00 target price for the company. Citigroup raised their price objective on shares of Kimco Realty from $9.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Morgan Stanley raised their price objective on shares of Kimco Realty from $7.50 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. BMO Capital Markets initiated coverage on shares of Kimco Realty in a report on Tuesday, July 21st. They set a “hold” rating and a $12.00 price objective on the stock. Finally, Piper Sandler raised shares of Kimco Realty from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $15.00 in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Kimco Realty presently has a consensus rating of “Hold” and an average price target of $14.53.
In related news, insider Realty Corp Kimco sold 4,675,726 shares of Kimco Realty stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $15.27, for a total value of $71,398,336.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.
Shares of Kimco Realty stock traded up $0.15 during trading on Friday, reaching $12.66. The company’s stock had a trading volume of 5,199,939 shares, compared to its average volume of 4,131,311. The company has a 50-day moving average price of $11.63 and a two-hundred day moving average price of $12.21. The firm has a market cap of $5.48 billion, a PE ratio of 9.38, a P/E/G ratio of 8.92 and a beta of 1.17. Kimco Realty Corp has a fifty-two week low of $7.45 and a fifty-two week high of $21.86. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.95.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Friday, August 7th. The real estate investment trust reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $1.48. Kimco Realty had a net margin of 93.11% and a return on equity of 20.23%. The firm had revenue of $238.60 million for the quarter, compared to analyst estimates of $248.35 million. During the same period last year, the firm posted $0.36 EPS. Kimco Realty’s quarterly revenue was down 16.3% on a year-over-year basis. On average, analysts predict that Kimco Realty Corp will post 1.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a $0.10 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $0.40 dividend on an annualized basis and a yield of 3.16%.
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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