Millennium Management LLC Buys 250,718 Shares of Kimco Realty Corp (NYSE:KIM)

Millennium Management LLC increased its holdings in Kimco Realty Corp (NYSE:KIM - Free Report) by 33.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 989,701 shares of the real estate investment trust's stock after purchasing an additional 250,718 shares during the quarter. Millennium Management LLC owned 0.15% of Kimco Realty worth $23,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Kimco Realty in the 4th quarter worth approximately $26,000. Brown Brothers Harriman & Co. raised its holdings in shares of Kimco Realty by 78.9% in the 4th 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 in the last quarter. Headlands Technologies LLC bought a new stake in shares of Kimco Realty in the 4th quarter worth approximately $45,000. Catalyst Capital Advisors LLC raised its holdings in shares of Kimco Realty by 102.9% in the 4th 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 in the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in shares of Kimco Realty in the 4th quarter worth approximately $76,000. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Price Performance

NYSE:KIM traded down $0.13 on Monday, hitting $20.48. The company had a trading volume of 2,903,930 shares, compared to its average volume of 4,491,126. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 2.78 and a beta of 1.26. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $20.59 and a two-hundred day moving average of $22.17. Kimco Realty Corp has a 52 week low of $17.93 and a 52 week high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The business 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%. Kimco Realty's quarterly revenue was up 965.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. On average, research analysts anticipate that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Friday, June 6th. Kimco Realty's dividend payout ratio is currently 129.87%.

Analyst Ratings Changes

A number of analysts recently commented on KIM shares. Citigroup dropped their target price 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. 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. Wall Street Zen lowered shares of Kimco Realty from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Scotiabank dropped their price objective on shares of 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 analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $24.68.

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.