Bank of New York Mellon Corp boosted its position in Kimco Realty Corp (NYSE:KIM) by 11.7% during the 4th quarter, Holdings Channel reports. The firm owned 18,745,745 shares of the real estate investment trust’s stock after purchasing an additional 1,959,743 shares during the period. Bank of New York Mellon Corp’s holdings in Kimco Realty were worth $340,235,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Kimco Realty by 103.7% in the second quarter. Royal Bank of Canada now owns 126,830 shares of the real estate investment trust’s stock worth $2,327,000 after purchasing an additional 64,576 shares during the last quarter. Third Avenue Management LLC purchased a new position in Kimco Realty in the third quarter worth about $21,120,000. RMR Advisors LLC boosted its position in Kimco Realty by 24.5% in the fourth quarter. RMR Advisors LLC now owns 137,000 shares of the real estate investment trust’s stock worth $2,487,000 after purchasing an additional 27,000 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Kimco Realty by 1.7% in the third quarter. Asset Management One Co. Ltd. now owns 1,634,172 shares of the real estate investment trust’s stock worth $31,889,000 after buying an additional 27,116 shares during the period. Finally, Goodman Financial Corp raised its stake in shares of Kimco Realty by 10.5% in the third quarter. Goodman Financial Corp now owns 243,140 shares of the real estate investment trust’s stock worth $4,753,000 after buying an additional 23,010 shares during the period. 91.37% of the stock is currently owned by institutional investors and hedge funds.
KIM has been the topic of several recent research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Kimco Realty in a research note on Friday, November 10th. ValuEngine downgraded Kimco Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Kimco Realty in a research note on Thursday, February 1st. SunTrust Banks set a $18.00 price objective on Kimco Realty and gave the stock a “hold” rating in a research note on Monday, January 22nd. Finally, Mizuho set a $20.00 price objective on Kimco Realty and gave the stock a “hold” rating in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $20.81.
Shares of Kimco Realty Corp (KIM) opened at $15.20 on Monday. The stock has a market capitalization of $6,470.00, a P/E ratio of 17.47, a P/E/G ratio of 2.25 and a beta of 0.46. Kimco Realty Corp has a 12 month low of $13.70 and a 12 month high of $24.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.08 and a current ratio of 0.10.
Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). The business had revenue of $310.63 million for the quarter, compared to the consensus estimate of $297.92 million. Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. equities analysts forecast that Kimco Realty Corp will post 1.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.37%. The ex-dividend date is Monday, April 2nd. Kimco Realty’s dividend payout ratio (DPR) is presently 128.74%.
Kimco Realty announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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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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