Kimco Realty Corp. (KIM) Trading Down 1%
Kimco Realty Corp. (NYSE:KIM)’s share price dropped 1% on Tuesday . The stock traded as low as $31.16 and last traded at $31.41, with a volume of 1,259,773 shares changing hands. The stock had previously closed at $31.72.
KIM has been the subject of several research reports. Evercore ISI lifted their target price on Kimco Realty Corp. to $27.00 in a research report on Monday, March 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a $31.00 target price (up from $29.00) on shares of Kimco Realty Corp. in a research report on Friday, March 25th. Stifel Nicolaus lifted their target price on Kimco Realty Corp. from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, March 31st. Zacks Investment Research downgraded Kimco Realty Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, April 12th. Finally, Mizuho initiated coverage on Kimco Realty Corp. in a research report on Wednesday, April 13th. They issued a “neutral” rating and a $28.50 target price for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.07.
The firm has a 50 day moving average of $29.68 and a 200-day moving average of $28.06. The firm has a market capitalization of $13.18 billion and a PE ratio of 19.61.
Kimco Realty Corp. (NYSE:KIM) last announced its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. During the same period in the previous year, the firm earned $0.37 EPS. The business had revenue of $297.20 million for the quarter, compared to the consensus estimate of $292.80 million. The firm’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Kimco Realty Corp. will post $1.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, July 6th will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, July 1st.
In other Kimco Realty Corp. news, CEO Conor C. Flynn sold 58,300 shares of Kimco Realty Corp. stock in a transaction on Monday, May 9th. The stock was sold at an average price of $29.72, for a total transaction of $1,732,676.00. Following the sale, the chief executive officer now owns 447,826 shares of the company’s stock, valued at approximately $13,309,388.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Other hedge funds have made changes to their positions in the company. Quantitative Investment Management LLC acquired a new stake in shares of Kimco Realty Corp. during the fourth quarter valued at $1,151,000. GSA Capital Partners LLP acquired a new stake in shares of Kimco Realty Corp. during the fourth quarter valued at $1,165,000. Alpine Woods Capital Investors LLC increased its stake 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 valued at $1,347,000 after buying an additional 900 shares during the last quarter. Globeflex Capital L P increased its stake 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 valued at $1,348,000 after buying an additional 518 shares during the last quarter. Finally, SECOR Capital Advisors LP acquired a new stake in shares of Kimco Realty Corp. during the fourth quarter valued at $1,751,000.
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.
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