Adelante Capital Management LLC Purchases 194,637 Shares of Kimco Realty Corp (NYSE:KIM)

Adelante Capital Management LLC grew its position in Kimco Realty Corp (NYSE:KIM) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,317,331 shares of the real estate investment trust’s stock after purchasing an additional 194,637 shares during the period. Kimco Realty makes up approximately 3.5% of Adelante Capital Management LLC’s holdings, making the stock its 10th largest holding. Adelante Capital Management LLC’s holdings in Kimco Realty were worth $54,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Kimco Realty in the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new position in Kimco Realty during the 3rd quarter worth approximately $31,000. Brown Brothers Harriman & Co. lifted its position in Kimco Realty by 78.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 575 shares in the last quarter. Headlands Technologies LLC acquired a new position in Kimco Realty during the 4th quarter worth approximately $45,000. Finally, Catalyst Capital Advisors LLC lifted its position in Kimco Realty by 102.9% during the 4th quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,104 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KIM shares. Scotiabank reduced their price target on Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their price target on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Mizuho reduced their price target on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group downgraded Kimco Realty from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $28.00 to $25.00 in a report on Thursday, January 2nd. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Kimco Realty currently has a consensus rating of “Moderate Buy” and an average price target of $24.68.

Kimco Realty Trading Down 2.0 %

NYSE KIM opened at $20.09 on Wednesday. Kimco Realty Corp has a one year low of $17.93 and a one year high of $25.83. The company has a 50-day simple moving average of $20.73 and a 200-day simple moving average of $22.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The firm has a market capitalization of $13.65 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. On average, equities analysts forecast that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 annualized dividend and a yield of 4.98%. Kimco Realty’s dividend payout ratio is presently 178.57%.

Kimco Realty 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.