PGGM Investments boosted its position in shares of Kimco Realty Corporation (NYSE:KIM) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,304,000 shares of the real estate investment trust’s stock after purchasing an additional 523,000 shares during the quarter. Kimco Realty Corporation comprises 1.1% of PGGM Investments’ holdings, making the stock its 19th biggest position. PGGM Investments owned 2.66% of Kimco Realty Corporation worth $220,993,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in KIM. Pacer Advisors Inc. grew its position in shares of Kimco Realty Corporation by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 790 shares during the period. Eqis Capital Management Inc. acquired a new position in shares of Kimco Realty Corporation during the 3rd quarter worth about $201,000. Carnegie Capital Asset Management LLC acquired a new position in shares of Kimco Realty Corporation during the 2nd quarter worth about $204,000. Creative Planning grew its position in shares of Kimco Realty Corporation by 31.8% during the 2nd quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 2,715 shares during the period. Finally, First Allied Advisory Services Inc. grew its position in shares of Kimco Realty Corporation by 5.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 10,550 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 564 shares during the period. 88.65% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on KIM shares. BidaskClub upgraded Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Royal Bank Of Canada restated a “buy” rating and set a $25.00 target price on shares of Kimco Realty Corporation in a research report on Friday, August 4th. Zacks Investment Research upgraded Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Boenning Scattergood restated a “hold” rating on shares of Kimco Realty Corporation in a research report on Friday, July 28th. Finally, Argus lowered Kimco Realty Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $24.43.
Shares of Kimco Realty Corporation (NYSE:KIM) traded down 1.57% during trading on Friday, hitting $18.77. The company had a trading volume of 3,045,654 shares. The stock has a 50-day moving average of $19.62 and a 200 day moving average of $19.58. Kimco Realty Corporation has a 12-month low of $17.02 and a 12-month high of $28.38. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 38.23 and a beta of 0.67.
Kimco Realty Corporation (NYSE:KIM) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.07). The business had revenue of $292.84 million during the quarter, compared to the consensus estimate of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. On average, analysts predict that Kimco Realty Corporation will post $0.70 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th were issued a $0.27 dividend. The ex-dividend date was Tuesday, October 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 5.75%. Kimco Realty Corporation’s payout ratio is currently 220.41%.
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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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