Janus Henderson Group PLC boosted its position in Kimco Realty Corp (NYSE:KIM) by 63.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 131,325 shares of the real estate investment trust’s stock after purchasing an additional 51,043 shares during the period. Janus Henderson Group PLC’s holdings in Kimco Realty were worth $2,567,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Penserra Capital Management LLC bought a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $105,000. Carnegie Capital Asset Management LLC bought a new position in shares of Kimco Realty during the 2nd quarter valued at approximately $204,000. Pacer Advisors Inc. grew its position in shares of Kimco Realty by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 790 shares during the period. Eqis Capital Management Inc. bought a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $201,000. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $203,000. 91.51% of the stock is owned by institutional investors and hedge funds.
In other news, insider Milton Cooper bought 50,000 shares of the stock in a transaction on Monday, December 4th. The shares were acquired at an average cost of $19.20 per share, for a total transaction of $960,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.90% of the company’s stock.
Kimco Realty (NYSE:KIM) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.13). Kimco Realty had a return on equity of 7.73% and a net margin of 35.51%. The firm had revenue of $290.92 million during the quarter, compared to analysts’ expectations of $295.34 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts predict that Kimco Realty Corp will post 1.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a $0.28 dividend. The ex-dividend date is Friday, December 29th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 6.17%. Kimco Realty’s dividend payout ratio is currently 125.58%.
Several research firms recently commented on KIM. BMO Capital Markets began coverage on shares of Kimco Realty in a report on Monday, September 11th. They issued a “market perform” rating and a $21.00 price objective for the company. Robert W. Baird downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $20.00 in a report on Monday, November 27th. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty in a report on Friday, October 27th. Mizuho reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Kimco Realty in a report on Monday, October 9th. Finally, JPMorgan Chase & Co. raised shares of Kimco Realty from a “neutral” rating to an “overweight” rating and set a $24.00 price objective for the company in a report on Tuesday, September 26th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.75.
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Kimco Realty Profile
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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