IFP Advisors Inc raised its position in shares of Kimco Realty Corporation (NYSE:KIM) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,972 shares of the real estate investment trust’s stock after buying an additional 1,517 shares during the period. IFP Advisors Inc’s holdings in Kimco Realty Corporation were worth $532,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Global X Management Co. LLC boosted its stake in Kimco Realty Corporation by 30.5% in the first quarter. Global X Management Co. LLC now owns 9,861 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 2,304 shares in the last quarter. Suntrust Banks Inc. boosted its stake in Kimco Realty Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 9,930 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 504 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Kimco Realty Corporation during the first quarter worth $235,000. Keybank National Association OH boosted its stake in Kimco Realty Corporation by 25.1% in the first quarter. Keybank National Association OH now owns 10,623 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 2,133 shares in the last quarter. Finally, Sawtooth Solutions LLC purchased a new stake in Kimco Realty Corporation during the first quarter worth $236,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.
Kimco Realty Corporation (KIM) opened at 19.99 on Friday. Kimco Realty Corporation has a 12-month low of $17.02 and a 12-month high of $30.70. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 40.71 and a beta of 0.67. The stock’s 50 day moving average is $19.27 and its 200 day moving average is $20.95.
Kimco Realty Corporation (NYSE:KIM) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The company had revenue of $292.84 million for the quarter, compared to analyst estimates of $290.95 million. During the same period in the prior year, the business earned $0.37 earnings per share. Kimco Realty Corporation’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Kimco Realty Corporation will post $0.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio is presently 220.41%.
KIM has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Kimco Realty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Boenning Scattergood restated a “hold” rating on shares of Kimco Realty Corporation in a report on Friday, July 28th. ValuEngine cut shares of Kimco Realty Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Barclays PLC lowered their price target on shares of Kimco Realty Corporation from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, June 26th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Kimco Realty Corporation from a “sell” rating to a “neutral” rating and set a $18.70 price target on the stock in a report on Tuesday, June 20th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.15.
In related news, Director Philip E. Coviello, Jr. purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average cost of $17.37 per share, with a total value of $347,400.00. Following the completion of the acquisition, the director now directly owns 41,045 shares in the company, valued at $712,951.65. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.90% of the stock is owned by company insiders.
About Kimco Realty Corporation
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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