Contravisory Investment Management Inc. Buys New Stake in Kimco Realty Corp (NYSE:KIM)

Contravisory Investment Management Inc. purchased a new position in Kimco Realty Corp (NYSE:KIM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,564 shares of the real estate investment trust's stock, valued at approximately $500,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Kimco Realty in the fourth quarter worth $26,000. Brown Brothers Harriman & Co. grew its holdings in Kimco Realty by 78.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 575 shares during the last quarter. Headlands Technologies LLC purchased a new position in Kimco Realty in the fourth quarter worth $45,000. Sentry Investment Management LLC purchased a new position in Kimco Realty in the first quarter worth $45,000. Finally, Catalyst Capital Advisors LLC grew its holdings in Kimco Realty by 102.9% in the fourth quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 1,104 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KIM has been the topic of several analyst reports. Piper Sandler cut their price target on shares of Kimco Realty from $29.00 to $28.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company cut their price target on shares of Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Citigroup cut their price target on shares of Kimco Realty from $27.00 to $21.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Scotiabank cut their price target on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Kimco Realty from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Kimco Realty currently has a consensus rating of "Hold" and an average target price of $24.68.

Kimco Realty Stock Performance

Shares of KIM traded up $0.18 during trading hours on Friday, reaching $21.00. 5,261,209 shares of the company traded hands, compared to its average volume of 4,501,858. The stock has a market capitalization of $14.20 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.78 and a beta of 1.27. The business has a fifty day moving average price of $20.59 and a 200-day moving average price of $21.95. Kimco Realty Corp has a 12-month low of $17.93 and a 12-month high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its 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 company had revenue of $536.62 million during the quarter, compared to the consensus estimate of $520.68 million. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The firm's quarterly revenue was up 965.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities analysts anticipate that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.76%. Kimco Realty's dividend payout ratio is presently 129.87%.

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.