LPL Financial LLC Has $3.74 Million Stock Position in Kimco Realty Corporation (NYSE:KIM)

Key Points

• LPL Financial LLC has increased its stake in Kimco Realty Corporation by 33.3%, owning 176,215 shares worth approximately $3.74 million as of the end of the first quarter.
• The company recently reported $0.44 earnings per share for the latest quarter, surpassing expectations and achieving a revenue of $525.18 million, representing a 5% year-over-year increase.
• Kimco Realty has announced a quarterly dividend of $0.25 per share, with a dividend yield of 4.7%, although its payout ratio stands at 120.48%.

LPL Financial LLC raised its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 33.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,215 shares of the real estate investment trust's stock after buying an additional 44,010 shares during the period. LPL Financial LLC's holdings in Kimco Realty were worth $3,743,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in shares of Kimco Realty by 177.6% during the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 911 shares during the period. WASHINGTON TRUST Co acquired a new position in shares of Kimco Realty during the first quarter worth $34,000. Olde Wealth Management LLC acquired a new position in shares of Kimco Realty during the first quarter worth $41,000. Sentry Investment Management LLC acquired a new position in shares of Kimco Realty during the first quarter worth $45,000. Finally, Menard Financial Group LLC acquired a new position in shares of Kimco Realty during the fourth quarter worth $90,000. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Trading Up 0.2%

KIM opened at $21.20 on Friday. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $25.83. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. The company has a market cap of $14.36 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.31. The company has a fifty day moving average price of $21.29 and a two-hundred day moving average price of $21.14.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm had revenue of $525.18 million during the quarter, compared to the consensus estimate of $524.75 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. Analysts predict that Kimco Realty Corporation 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, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.7%. Kimco Realty's payout ratio is presently 120.48%.

Analyst Ratings Changes

A number of brokerages have recently commented on KIM. Raymond James Financial cut their price target on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Monday, May 5th. 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. Piper Sandler cut their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Barclays began coverage on shares of Kimco Realty in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.57.

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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