Kimco Realty Corp. (KIM) Trading Down 2.3%
Kimco Realty Corp. (NYSE:KIM) shares dropped 2.3% during trading on Thursday . The stock traded as low as $30.33 and last traded at $30.36, with a volume of 1,660,055 shares traded. The stock had previously closed at $31.07.
KIM has been the subject of several research reports. Barclays PLC restated a “buy” rating and issued a $34.00 price objective on shares of Kimco Realty Corp. in a report on Tuesday, July 19th. Royal Bank Of Canada increased their price target on shares of Kimco Realty Corp. from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, August 1st. Citigroup Inc. lowered shares of Kimco Realty Corp. from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a research note on Thursday, July 7th. Boenning Scattergood initiated coverage on shares of Kimco Realty Corp. in a research note on Tuesday, June 28th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research upgraded shares of Kimco Realty Corp. from a “sell” rating to a “hold” rating in a research note on Monday, May 9th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.13.
The stock’s 50 day moving average price is $31.22 and its 200 day moving average price is $28.86. The company has a market cap of $12.78 billion and a PE ratio of 17.04.
Kimco Realty Corp. (NYSE:KIM) last announced its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. During the same period last year, the firm earned $0.37 EPS. The firm earned $287.12 million during the quarter, compared to analyst estimates of $291.96 million. Kimco Realty Corp.’s quarterly revenue was down .7% on a year-over-year basis. On average, analysts forecast that Kimco Realty Corp. will post $1.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Wednesday, October 5th will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Monday, October 3rd.
In other news, Director Philip E. Coviello, Jr. purchased 1,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was bought at an average price of $31.17 per share, with a total value of $31,170.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A number of institutional investors recently made changes to their positions in KIM. State of New Jersey Common Pension Fund D raised its position in shares of Kimco Realty Corp. by 7.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 771,000 shares of the real estate investment trust’s stock worth $20,400,000 after buying an additional 50,500 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in shares of Kimco Realty Corp. by 26.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 78,909 shares of the real estate investment trust’s stock worth $2,082,000 after buying an additional 16,652 shares during the last quarter. 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 last quarter. GSA Capital Partners LLP bought a new position in shares of Kimco Realty Corp. during the fourth quarter worth $1,165,000. Finally, Eaton Vance Management raised its position in shares of Kimco Realty Corp. by 4.0% in the fourth quarter. Eaton Vance Management now owns 99,576 shares of the real estate investment trust’s stock worth $2,635,000 after buying an additional 3,800 shares during the last quarter.
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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