Canada Pension Plan Investment Board boosted its stake in shares of Kimco Realty Corp (NYSE:KIM) by 8.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,507,754 shares of the real estate investment trust’s stock after purchasing an additional 120,288 shares during the period. Canada Pension Plan Investment Board’s holdings in Kimco Realty were worth $25,617,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Algebris UK Ltd bought a new position in shares of Kimco Realty in the 1st quarter worth about $8,045,000. Greenwich Wealth Management LLC lifted its position in shares of Kimco Realty by 33.8% in the 1st quarter. Greenwich Wealth Management LLC now owns 49,973 shares of the real estate investment trust’s stock worth $720,000 after buying an additional 12,618 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Kimco Realty by 17.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 87,376 shares of the real estate investment trust’s stock worth $1,258,000 after buying an additional 12,700 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Kimco Realty by 1.6% in the 1st quarter. Rhumbline Advisers now owns 840,631 shares of the real estate investment trust’s stock worth $12,105,000 after buying an additional 13,453 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in shares of Kimco Realty by 22.2% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 113,102 shares of the real estate investment trust’s stock worth $1,636,000 after buying an additional 20,517 shares during the last quarter. 86.90% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on KIM shares. Boenning Scattergood restated a “hold” rating on shares of Kimco Realty in a research report on Friday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Kimco Realty in a report on Thursday, April 26th. Zacks Investment Research raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Kimco Realty in a report on Friday, July 27th. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Kimco Realty in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.15.
KIM stock opened at $17.06 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.09 and a current ratio of 0.09. Kimco Realty Corp has a fifty-two week low of $13.16 and a fifty-two week high of $20.63. The stock has a market capitalization of $7.16 billion, a P/E ratio of 11.01, a PEG ratio of 3.35 and a beta of 0.46.
Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business had revenue of $293.40 million for the quarter, compared to analysts’ expectations of $291.04 million. Kimco Realty had a net margin of 42.68% and a return on equity of 9.40%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. research analysts forecast that Kimco Realty Corp will post 1.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Tuesday, October 2nd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, October 1st. This represents a $1.12 annualized dividend and a yield of 6.57%. Kimco Realty’s payout ratio is 72.26%.
In related news, Director Philip E. Coviello, Jr. bought 5,500 shares of the stock in a transaction on Wednesday, August 1st. The shares were purchased at an average price of $16.46 per share, with a total value of $90,530.00. Following the purchase, the director now owns 52,965 shares in the company, valued at $871,803.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by company insiders.
About Kimco Realty
Kimco Realty Corp. (NYSE: KIM) 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 March 31, 2018, the company owned interests in 475 U.S. shopping centers comprising 81 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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