Kimelman & Baird LLC cut its holdings in Kimco Realty Corp (NYSE:KIM) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,875 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. Kimelman & Baird LLC’s holdings in Kimco Realty were worth $1,756,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Millennium Management LLC grew its position in Kimco Realty by 250.8% in the 4th quarter. Millennium Management LLC now owns 541,143 shares of the real estate investment trust’s stock valued at $7,928,000 after acquiring an additional 386,889 shares during the last quarter. Macquarie Group Ltd. grew its position in Kimco Realty by 73.2% in the 4th quarter. Macquarie Group Ltd. now owns 984,105 shares of the real estate investment trust’s stock valued at $14,417,000 after acquiring an additional 415,966 shares during the last quarter. Cetera Investment Advisers bought a new position in Kimco Realty in the 4th quarter valued at $162,000. First Allied Advisory Services Inc. bought a new position in Kimco Realty in the 4th quarter valued at $286,000. Finally, Legal & General Group Plc grew its position in Kimco Realty by 1.3% in the 4th quarter. Legal & General Group Plc now owns 3,256,801 shares of the real estate investment trust’s stock valued at $47,713,000 after acquiring an additional 40,690 shares during the last quarter. 86.93% of the stock is currently owned by institutional investors and hedge funds.
In other Kimco Realty news, Director Richard B. Saltzman sold 5,500 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.39, for a total value of $101,145.00. Following the completion of the sale, the director now directly owns 81,335 shares in the company, valued at approximately $1,495,750.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is currently owned by corporate insiders.
KIM has been the topic of several research analyst reports. Zacks Investment Research raised Kimco Realty from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Monday, December 31st. ValuEngine upgraded Kimco Realty from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.60.
Shares of KIM stock traded up $0.05 during mid-day trading on Monday, hitting $18.18. The stock had a trading volume of 574,184 shares, compared to its average volume of 3,520,675. Kimco Realty Corp has a 12-month low of $13.16 and a 12-month high of $18.41. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 3.80 and a beta of 0.64. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.90.
Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.18). Kimco Realty had a return on equity of 8.84% and a net margin of 41.49%. The firm had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $278.28 million. Research analysts predict that Kimco Realty Corp will post 1.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.16%. The ex-dividend date of this dividend is Monday, April 1st. Kimco Realty’s dividend payout ratio is 77.24%.
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About Kimco Realty
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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