Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Kimco Realty Corp (NYSE:KIM) by 25.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 163,814 shares of the real estate investment trust’s stock after acquiring an additional 33,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Kimco Realty were worth $3,027,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. 6 Meridian lifted its stake in Kimco Realty by 1.9% in the 2nd quarter. 6 Meridian now owns 29,403 shares of the real estate investment trust’s stock valued at $543,000 after buying an additional 555 shares in the last quarter. Washington Trust Bank lifted its stake in Kimco Realty by 2.7% in the 1st quarter. Washington Trust Bank now owns 21,627 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 575 shares in the last quarter. SG Americas Securities LLC lifted its stake in Kimco Realty by 0.3% in the 1st quarter. SG Americas Securities LLC now owns 213,328 shares of the real estate investment trust’s stock valued at $3,947,000 after buying an additional 585 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Kimco Realty by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 196,819 shares of the real estate investment trust’s stock valued at $3,637,000 after buying an additional 599 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Kimco Realty by 29.9% in the 1st quarter. Quadrant Capital Group LLC now owns 2,889 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 665 shares in the last quarter. 90.14% of the stock is currently owned by hedge funds and other institutional investors.
In other Kimco Realty news, Director Frank Lourenso sold 3,380 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $18.84, for a total value of $63,679.20. Following the sale, the director now owns 198,106 shares in the company, valued at $3,732,317.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Bank of America boosted their price target on Armstrong World Industries from $95.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Zacks Investment Research downgraded W. R. Grace & Co from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Raymond James reiterated a “buy” rating on shares of Tamarack-Valley-Energy in a report on Tuesday, May 28th. Finally, Evercore ISI downgraded Essex Property Trust from an “outperform” rating to an “in-line” rating in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.36.
KIM traded up $0.51 during trading on Tuesday, hitting $18.67. The company’s stock had a trading volume of 450,179 shares, compared to its average volume of 2,843,002. The business has a 50 day simple moving average of $18.43. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market cap of $7.76 billion, a PE ratio of 12.86, a PEG ratio of 3.03 and a beta of 0.59. Kimco Realty Corp has a twelve month low of $14.29 and a twelve month high of $19.29.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.12). The business had revenue of $295.00 million during the quarter, compared to analyst estimates of $282.49 million. Kimco Realty had a net margin of 39.40% and a return on equity of 8.37%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, research analysts expect that Kimco Realty Corp will post 1.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd were issued a dividend of $0.28 per share. The ex-dividend date was Monday, July 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.00%. Kimco Realty’s payout ratio is 77.24%.
Kimco Realty 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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