Forward Management LLC held its position in Kimco Realty Corporation (NYSE:KIM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,100 shares of the real estate investment trust’s stock at the end of the second quarter. Forward Management LLC’s holdings in Kimco Realty Corporation were worth $754,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Chevy Chase Trust Holdings Inc. increased its position in Kimco Realty Corporation by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 367,614 shares of the real estate investment trust’s stock valued at $8,121,000 after buying an additional 11,756 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Kimco Realty Corporation by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 127,844 shares of the real estate investment trust’s stock valued at $2,824,000 after buying an additional 1,900 shares during the last quarter. Capstone Asset Management Co. increased its position in Kimco Realty Corporation by 0.4% in the first quarter. Capstone Asset Management Co. now owns 52,286 shares of the real estate investment trust’s stock valued at $1,155,000 after buying an additional 210 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Kimco Realty Corporation during the first quarter valued at $235,000. Finally, DnB Asset Management AS increased its position in Kimco Realty Corporation by 17.7% in the first quarter. DnB Asset Management AS now owns 41,956 shares of the real estate investment trust’s stock valued at $927,000 after buying an additional 6,300 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.
Kimco Realty Corporation (KIM) opened at 20.46 on Friday. Kimco Realty Corporation has a 52-week low of $17.02 and a 52-week high of $30.71. The stock’s 50 day moving average price is $19.21 and its 200-day moving average price is $20.99. The company has a market capitalization of $8.71 billion, a P/E ratio of 41.67 and a beta of 0.67.
Kimco Realty Corporation (NYSE:KIM) last released its quarterly earnings data 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 company had revenue of $292.84 million for the quarter, compared to analyst estimates of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. Analysts predict that Kimco Realty Corporation will post $0.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio (DPR) is currently 220.41%.
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Several research analysts have weighed in on KIM shares. Zacks Investment Research downgraded Kimco Realty Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. Canaccord Genuity restated a “buy” rating and issued a $34.00 price target on shares of Kimco Realty Corporation in a research note on Thursday, April 27th. TheStreet downgraded Kimco Realty Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, April 26th. Citigroup Inc. dropped their price target on Kimco Realty Corporation from $26.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, May 9th. Finally, ValuEngine downgraded Kimco Realty Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. 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 stock presently has an average rating of “Buy” and a consensus price target of $27.15.
In related news, Director Philip E. Coviello, Jr. acquired 20,000 shares of the stock in a transaction on Monday, June 5th. The shares were bought at an average price of $17.37 per share, with a total value of $347,400.00. Following the completion of the purchase, the director now owns 41,045 shares of the company’s stock, valued at approximately $712,951.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.
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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