Highlander Capital Management LLC boosted its position in shares of Kimco Realty Corp (NYSE:KIM) by 8.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,900 shares of the real estate investment trust’s stock after buying an additional 5,000 shares during the quarter. Highlander Capital Management LLC’s holdings in Kimco Realty were worth $937,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Kiwi Wealth Investments Limited Partnership purchased a new position in Kimco Realty during the 1st quarter valued at $1,343,000. Amundi Pioneer Asset Management Inc. increased its position in Kimco Realty by 84.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 5,610,001 shares of the real estate investment trust’s stock valued at $80,783,000 after purchasing an additional 2,575,044 shares during the period. Guggenheim Capital LLC increased its position in Kimco Realty by 25.2% during the 1st quarter. Guggenheim Capital LLC now owns 2,263,062 shares of the real estate investment trust’s stock valued at $32,587,000 after purchasing an additional 455,709 shares during the period. California State Teachers Retirement System increased its position in Kimco Realty by 4.9% during the 1st quarter. California State Teachers Retirement System now owns 772,843 shares of the real estate investment trust’s stock valued at $11,129,000 after purchasing an additional 36,214 shares during the period. Finally, Element Capital Management LLC purchased a new position in Kimco Realty during the 1st quarter valued at $757,000. 86.79% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a research report on Monday, May 7th. ValuEngine downgraded shares of Kimco Realty from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty in a research report on Friday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $19.00 target price on shares of Kimco Realty in a research report on Thursday, April 26th. Finally, Morgan Stanley downgraded shares of Kimco Realty from an “overweight” rating to an “equal” rating in a research report on Tuesday, March 27th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the stock. Kimco Realty has a consensus rating of “Hold” and a consensus target price of $18.31.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, April 26th. The real estate investment trust reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.06). Kimco Realty had a net margin of 40.74% and a return on equity of 9.03%. The firm had revenue of $304.08 million for the quarter, compared to analysts’ expectations of $298.97 million. During the same period last year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. research analysts predict that Kimco Realty Corp will post 1.45 earnings per share for the current fiscal year.
Kimco Realty announced that its Board of Directors has approved a stock buyback plan on Thursday, February 15th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Tuesday, July 3rd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend is Monday, July 2nd. Kimco Realty’s dividend payout ratio (DPR) is 72.26%.
Kimco Realty Company Profile
Kimco Realty Corp. (NYSE: KIM) 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, 2017, the company owned interests in 492 U.S. shopping centers comprising 83 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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