Solaris Asset Management LLC Has $273,000 Position in Kimco Realty Corporation (KIM)
Solaris Asset Management LLC lowered its stake in shares of Kimco Realty Corporation (NYSE:KIM) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,875 shares of the real estate investment trust’s stock after selling 2,017 shares during the period. Solaris Asset Management LLC’s holdings in Kimco Realty Corporation were worth $273,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in KIM. Sigma Planning Corp bought a new stake in shares of Kimco Realty Corporation during the first quarter valued at about $331,000. First Manhattan Co. boosted its position in shares of Kimco Realty Corporation by 85.4% in the first quarter. First Manhattan Co. now owns 15,200 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 7,000 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in shares of Kimco Realty Corporation by 3.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,177 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 420 shares during the period. Loeb Partners Corp boosted its position in shares of Kimco Realty Corporation by 0.4% in the first quarter. Loeb Partners Corp now owns 69,600 shares of the real estate investment trust’s stock valued at $1,537,000 after buying an additional 300 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of Kimco Realty Corporation by 16.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 55,841 shares of the real estate investment trust’s stock valued at $1,234,000 after buying an additional 7,928 shares during the period. Institutional investors own 90.74% of the company’s stock.
Kimco Realty Corporation (NYSE KIM) opened at 20.47 on Wednesday. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 41.69 and a beta of 0.67. The company’s 50 day moving average price is $18.92 and its 200-day moving average price is $21.12. Kimco Realty Corporation has a 12-month low of $17.02 and a 12-month high of $31.34.
Kimco Realty Corporation (NYSE:KIM) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.07. The business had revenue of $292.84 million for the quarter, compared to the consensus estimate of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. On average, equities analysts anticipate that Kimco Realty Corporation will post $0.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 5.28%. Kimco Realty Corporation’s dividend payout ratio (DPR) is currently 220.41%.
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KIM has been the subject of a number of analyst reports. Canaccord Genuity reissued a “buy” rating and set a $34.00 price objective on shares of Kimco Realty Corporation in a report on Thursday, April 27th. Zacks Investment Research cut Kimco Realty Corporation from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. TheStreet cut Kimco Realty Corporation from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Citigroup Inc. lowered their price objective on Kimco Realty Corporation from $26.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, May 9th. Finally, BidaskClub upgraded Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $27.15.
In other Kimco Realty Corporation news, Director Philip E. Coviello, Jr. purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were acquired at an average cost of $17.37 per share, for a total transaction of $347,400.00. Following the completion of the acquisition, the director now owns 41,045 shares of the company’s stock, valued at approximately $712,951.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.
Kimco Realty Corporation Company Profile
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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