Kimco Realty Corp. (KIM) Trading Up 1.1%
Shares of Kimco Realty Corp. (NYSE:KIM) were up 1.1% during trading on Tuesday . The stock traded as high as $31.62 and last traded at $31.58, with a volume of 1,576,976 shares. The stock had previously closed at $31.23.
Several analysts recently commented on KIM shares. Zacks Investment Research lowered Kimco Realty Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, April 12th. Evercore ISI lifted their price objective on Kimco Realty Corp. to $27.00 in a report on Monday, March 21st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Kimco Realty Corp. in a report on Sunday, May 22nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Kimco Realty Corp. in a report on Friday, March 25th. Finally, Mizuho started coverage on Kimco Realty Corp. in a report on Wednesday, April 13th. They issued a “neutral” rating and a $28.50 price objective for the company. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $29.07.
The firm has a 50-day moving average price of $29.18 and a 200-day moving average price of $27.91. The firm has a market capitalization of $13.22 billion and a PE ratio of 19.68.
Kimco Realty Corp. (NYSE:KIM) last issued its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. During the same quarter in the prior year, the company posted $0.37 EPS. The business had revenue of $297.20 million for the quarter, compared to analysts’ expectations of $292.80 million. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Kimco Realty Corp. will post $1.58 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, July 6th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Friday, July 1st. This represents a $1.02 dividend on an annualized basis and a yield of 3.24%.
In related news, CEO Conor C. Flynn sold 58,300 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $29.72, for a total value of $1,732,676.00. Following the completion of the transaction, the chief executive officer now owns 447,826 shares in the company, valued at approximately $13,309,388.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Other institutional investors have recently modified their holdings of the company. Quantitative Investment Management LLC purchased a new position in shares of Kimco Realty Corp. during the fourth quarter worth about $1,151,000. GSA Capital Partners LLP purchased a new position in shares of Kimco Realty Corp. during the fourth quarter worth about $1,165,000. Alpine Woods Capital Investors LLC raised its position in shares of Kimco Realty Corp. by 1.8% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 50,900 shares of the real estate investment trust’s stock worth $1,347,000 after buying an additional 900 shares during the period. Globeflex Capital L P raised its position in shares of Kimco Realty Corp. by 1.0% in the fourth quarter. Globeflex Capital L P now owns 50,931 shares of the real estate investment trust’s stock worth $1,348,000 after buying an additional 518 shares during the period. Finally, World Asset Management Inc raised its position in shares of Kimco Realty Corp. by 9.9% in the fourth quarter. World Asset Management Inc now owns 54,281 shares of the real estate investment trust’s stock worth $1,436,000 after buying an additional 4,870 shares during the period.
Kimco Realty Corporation is a real estate investment trust. The Company is engaged principally in the ownership, management, development and operation of open-air shopping centers. The Company holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area (GLA), located in approximately 40 states of the United States, Puerto Rico and Canada.