Kimco Realty Corp (KIM) Stake Increased by New York State Common Retirement Fund
New York State Common Retirement Fund lifted its stake in Kimco Realty Corp (NYSE:KIM) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,022,500 shares of the real estate investment trust’s stock after purchasing an additional 86,700 shares during the period. New York State Common Retirement Fund owned approximately 0.24% of Kimco Realty worth $19,990,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in KIM. Penserra Capital Management LLC acquired a new stake in shares of Kimco Realty in the third quarter valued at about $105,000. Pacer Advisors Inc. lifted its stake in shares of Kimco Realty by 8.4% in the second quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 790 shares during the period. Eqis Capital Management Inc. acquired a new stake in shares of Kimco Realty in the third quarter valued at about $201,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Kimco Realty in the third quarter valued at about $203,000. Finally, Carnegie Capital Asset Management LLC acquired a new stake in shares of Kimco Realty in the second quarter valued at about $204,000. Hedge funds and other institutional investors own 92.22% of the company’s stock.
KIM has been the subject of several recent analyst reports. J P Morgan Chase & Co upgraded shares of Kimco Realty from a “neutral” rating to an “overweight” rating and set a $24.00 price objective for the company in a research note on Tuesday, September 26th. BidaskClub cut shares of Kimco Realty from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Stifel Nicolaus initiated coverage on shares of Kimco Realty in a research note on Thursday, November 30th. They issued a “hold” rating and a $19.50 price objective for the company. Robert W. Baird cut shares of Kimco Realty from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $20.00 in a research note on Monday, November 27th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Kimco Realty in a research note on Friday, October 27th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.02.
In other news, insider Milton Cooper purchased 50,000 shares of the stock in a transaction dated Monday, December 4th. The stock was acquired at an average cost of $19.20 per share, for a total transaction of $960,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.90% of the company’s stock.
Kimco Realty Corp (KIM) opened at $18.41 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. The stock has a market cap of $7,836.28, a PE ratio of 12.19, a price-to-earnings-growth ratio of 2.20 and a beta of 0.65. Kimco Realty Corp has a 52-week low of $17.02 and a 52-week high of $26.46.
Kimco Realty (NYSE:KIM) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). The business had revenue of $290.92 million for the quarter, compared to analyst estimates of $295.34 million. Kimco Realty had a return on equity of 7.73% and a net margin of 35.51%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. equities analysts expect that Kimco Realty Corp will post 1.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 29th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.08%. Kimco Realty’s payout ratio is 125.58%.
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Kimco Realty 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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