Lord Abbett & CO. LLC Purchases Shares of 1,074,305 Kimco Realty Corp (NYSE:KIM)

Lord Abbett & CO. LLC purchased a new stake in shares of Kimco Realty Corp (NYSE:KIM) during the third quarter, Holdings Channel reports. The fund purchased 1,074,305 shares of the real estate investment trust’s stock, valued at approximately $22,292,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MUFG Americas Holdings Corp boosted its position in Kimco Realty by 43.2% during the third quarter. MUFG Americas Holdings Corp now owns 1,432 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 432 shares during the last quarter. Murphy Pohlad Asset Management LLC boosted its position in Kimco Realty by 0.3% during the third quarter. Murphy Pohlad Asset Management LLC now owns 178,600 shares of the real estate investment trust’s stock valued at $3,705,000 after acquiring an additional 500 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Kimco Realty by 53.4% during the third quarter. Allworth Financial LP now owns 1,566 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 545 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kimco Realty by 7.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,362 shares of the real estate investment trust’s stock valued at $174,000 after purchasing an additional 577 shares during the period. Finally, Arkadios Wealth Advisors raised its holdings in shares of Kimco Realty by 23.8% during the third quarter. Arkadios Wealth Advisors now owns 3,798 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 729 shares during the period. 90.27% of the stock is currently owned by institutional investors and hedge funds.

In related news, CAO Paul Westbrook sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $23.81, for a total value of $95,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Lourenso sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 21st. The stock was sold at an average price of $23.39, for a total transaction of $128,645.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Kimco Realty stock opened at $25.01 on Friday. Kimco Realty Corp has a twelve month low of $15.91 and a twelve month high of $25.62. The firm has a 50 day moving average price of $23.78 and a 200-day moving average price of $22.44. The company has a market capitalization of $15.42 billion, a P/E ratio of 13.09, a P/E/G ratio of 2.00 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last released its earnings results on Friday, November 5th. The real estate investment trust reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.61. Kimco Realty had a net margin of 79.68% and a return on equity of 14.10%. The firm had revenue of $368.00 million during the quarter, compared to the consensus estimate of $281.88 million. During the same period in the prior year, the firm earned $0.25 EPS. The company’s revenue was up 43.4% compared to the same quarter last year. As a group, research analysts expect that Kimco Realty Corp will post 1.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 23rd. Investors of record on Thursday, December 9th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Wednesday, December 8th. Kimco Realty’s dividend payout ratio (DPR) is presently 35.60%.

Several equities analysts have recently weighed in on KIM shares. BTIG Research reiterated a “hold” rating on shares of Kimco Realty in a report on Sunday, September 26th. Wolfe Research started coverage on shares of Kimco Realty in a report on Thursday, September 23rd. They set a “market perform” rating and a $24.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and upped their price objective for the company from $24.00 to $26.00 in a report on Monday, January 3rd. Truist upped their price objective on shares of Kimco Realty from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, December 10th. Finally, Evercore ISI upgraded shares of Kimco Realty from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $26.00 in a report on Monday, November 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $25.81.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

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Institutional Ownership by Quarter for Kimco Realty (NYSE:KIM)

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