Afam Capital Inc. increased its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,470 shares of the real estate investment trust’s stock after buying an additional 11,674 shares during the quarter. Afam Capital Inc.’s holdings in Kimco Realty were worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Penserra Capital Management LLC purchased a new position in Kimco Realty during the 3rd quarter worth $105,000. Orinda Asset Management LLC purchased a new position in Kimco Realty during the 4th quarter worth $182,000. Kelman Lazarov Inc. purchased a new position in Kimco Realty during the 4th quarter worth $189,000. Eqis Capital Management Inc. purchased a new position in Kimco Realty during the 3rd quarter worth $201,000. Finally, Stoneridge Investment Partners LLC purchased a new position in Kimco Realty during the 3rd quarter worth $203,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
In related news, insider Milton Cooper bought 50,000 shares of the stock in a transaction dated Monday, December 4th. The shares were purchased at an average price of $19.20 per share, for a total transaction of $960,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.21). The firm had revenue of $310.63 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.38 EPS. equities research analysts forecast that Kimco Realty Corp will post 1.44 earnings per share for the current year.
Kimco Realty announced that its Board of Directors has approved a share repurchase program on Thursday, February 15th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be paid a $0.28 dividend. The ex-dividend date is Monday, April 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.37%. Kimco Realty’s payout ratio is 128.74%.
Several research analysts recently weighed in on KIM shares. Barclays dropped their target price on Kimco Realty from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. BMO Capital Markets set a $19.00 target price on Kimco Realty and gave the stock a “hold” rating in a research note on Thursday. Stifel Nicolaus started coverage on Kimco Realty in a research note on Thursday, November 30th. They set a “hold” rating and a $19.50 target price on the stock. Robert W. Baird downgraded Kimco Realty from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $20.00 in a research note on Monday, November 27th. Finally, Mizuho set a $20.00 price target on Kimco Realty and gave the company a “hold” rating in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. Kimco Realty has an average rating of “Hold” and a consensus price target of $20.81.
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About Kimco Realty
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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