Adell Harriman & Carpenter Inc. Makes New Investment in Kimco Realty Corporation (NYSE:KIM)

Adell Harriman & Carpenter Inc. purchased a new stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,084 shares of the real estate investment trust's stock, valued at approximately $469,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in Kimco Realty by 7.9% during the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust's stock valued at $564,560,000 after acquiring an additional 1,755,684 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kimco Realty by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust's stock worth $411,179,000 after purchasing an additional 377,074 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Kimco Realty by 18.3% during the fourth quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust's stock worth $407,301,000 after purchasing an additional 2,692,258 shares in the last quarter. Resolution Capital Ltd lifted its stake in shares of Kimco Realty by 13.7% during the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock worth $388,442,000 after purchasing an additional 1,992,550 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Kimco Realty during the fourth quarter worth about $363,436,000. Hedge funds and other institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Performance

Shares of NYSE:KIM traded up $0.11 during trading on Wednesday, hitting $21.19. 1,990,172 shares of the company traded hands, compared to its average volume of 4,521,287. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.47 and a beta of 1.24. The business's fifty day moving average is $21.01 and its 200-day moving average is $21.38. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 0.75.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $536.62 million during the quarter, compared to analyst estimates of $520.68 million. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. The firm's quarterly revenue was up 965.3% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. As a group, equities analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 4.72%. Kimco Realty's dividend payout ratio is 129.87%.

Analyst Upgrades and Downgrades

KIM has been the topic of a number of recent research reports. Citigroup reduced their price objective on Kimco Realty from $27.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Piper Sandler reduced their price objective on Kimco Realty from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company reduced their price objective on Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Barclays assumed coverage on Kimco Realty in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 price target on the stock. Finally, Scotiabank cut their price target on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $24.70.

About Kimco Realty

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.