California State Teachers Retirement System lessened its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 2.5% during the 4th quarter, HoldingsChannel reports. The fund owned 763,528 shares of the real estate investment trust’s stock after selling 19,958 shares during the period. California State Teachers Retirement System’s holdings in Kimco Realty were worth $11,186,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund grew its holdings in Kimco Realty by 1,347.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 670,838 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 624,480 shares during the last quarter. Enlightenment Research LLC acquired a new position in Kimco Realty during the fourth quarter valued at approximately $62,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Kimco Realty during the fourth quarter valued at approximately $107,000. Shulman DeMeo Asset Management LLC acquired a new position in Kimco Realty during the fourth quarter valued at approximately $152,000. Finally, First Midwest Bank Trust Division acquired a new position in Kimco Realty during the fourth quarter valued at approximately $153,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on KIM. Zacks Investment Research upgraded Kimco Realty from a “sell” rating to a “hold” rating in a report on Monday, February 4th. ValuEngine upgraded Kimco Realty from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.60.
Shares of KIM stock opened at $17.61 on Wednesday. Kimco Realty Corp has a 12 month low of $13.16 and a 12 month high of $18.01. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 3.70 and a beta of 0.64.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, January 31st. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.18). The company had revenue of $284.20 million for the quarter, compared to analyst estimates of $278.28 million. Kimco Realty had a net margin of 41.49% and a return on equity of 8.84%. On average, sell-side analysts anticipate that Kimco Realty Corp will post 1.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be paid a $0.28 dividend. The ex-dividend date is Monday, April 1st. This represents a $1.12 annualized dividend and a dividend yield of 6.36%. Kimco Realty’s payout ratio is 77.24%.
In related news, Director Philip E. Coviello, Jr. acquired 5,000 shares of the stock in a transaction dated Thursday, December 20th. The shares were acquired at an average price of $14.91 per share, for a total transaction of $74,550.00. Following the completion of the purchase, the director now owns 52,965 shares in the company, valued at approximately $789,708.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.
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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.
Further Reading: What is Cost of Goods Sold (COGS)?
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