IFP Advisors Inc Buys 1,517 Shares of Kimco Realty Corporation (KIM)
IFP Advisors Inc increased its position in Kimco Realty Corporation (NYSE:KIM) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,972 shares of the real estate investment trust’s stock after buying an additional 1,517 shares during the period. IFP Advisors Inc’s holdings in Kimco Realty Corporation were worth $532,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of KIM. Global X Management Co. LLC boosted its stake in Kimco Realty Corporation by 30.5% in the first quarter. Global X Management Co. LLC now owns 9,861 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 2,304 shares in the last quarter. Suntrust Banks Inc. boosted its stake in Kimco Realty Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 9,930 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 504 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Kimco Realty Corporation during the first quarter worth approximately $235,000. Keybank National Association OH boosted its stake in Kimco Realty Corporation by 25.1% in the first quarter. Keybank National Association OH now owns 10,623 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 2,133 shares in the last quarter. Finally, Sawtooth Solutions LLC bought a new stake in Kimco Realty Corporation during the first quarter worth approximately $236,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.
Shares of Kimco Realty Corporation (KIM) opened at 19.99 on Friday. The firm’s 50-day moving average price is $19.27 and its 200 day moving average price is $20.95. The stock has a market capitalization of $8.51 billion, a P/E ratio of 40.71 and a beta of 0.67. Kimco Realty Corporation has a 12-month low of $17.02 and a 12-month high of $30.70.
Kimco Realty Corporation (NYSE:KIM) last announced its quarterly earnings data 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 firm had revenue of $292.84 million during the quarter, compared to the consensus estimate of $290.95 million. Kimco Realty Corporation had a net margin of 21.77% and a return on equity of 4.68%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. Analysts predict that Kimco Realty Corporation will post $0.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.08 annualized dividend and a dividend yield of 5.40%. Kimco Realty Corporation’s dividend payout ratio is currently 220.41%.
A number of analysts recently commented on the company. BidaskClub upgraded Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank Of Canada reiterated a “buy” rating and set a $25.00 price objective on shares of Kimco Realty Corporation in a research report on Friday, August 4th. Boenning Scattergood reiterated a “hold” rating on shares of Kimco Realty Corporation in a research report on Friday, July 28th. Zacks Investment Research raised Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Barclays PLC decreased their price target on Kimco Realty Corporation from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, June 26th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.15.
In related news, Director Philip E. Coviello, Jr. purchased 20,000 shares of Kimco Realty Corporation stock in a transaction dated 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 transaction, the director now directly owns 41,045 shares of the company’s stock, valued at $712,951.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is owned by company insiders.
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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