Pacific Heights Asset Management LLC Purchases 175,000 Shares of Kimco Realty Corporation (NYSE:KIM)

Pacific Heights Asset Management LLC lifted its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 140.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the real estate investment trust's stock after purchasing an additional 175,000 shares during the period. Pacific Heights Asset Management LLC's holdings in Kimco Realty were worth $6,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Kimco Realty during the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC raised its stake in shares of Kimco Realty by 177.6% during the 1st 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 in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Kimco Realty by 78.9% during 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. WASHINGTON TRUST Co bought a new stake in shares of Kimco Realty during the 1st quarter worth approximately $34,000. Finally, Headlands Technologies LLC bought a new stake in shares of Kimco Realty during the 4th quarter worth approximately $45,000. Institutional investors own 89.25% of the company's stock.

Kimco Realty Price Performance

NYSE:KIM traded down $0.42 during trading hours on Monday, hitting $21.20. The company's stock had a trading volume of 4,248,432 shares, compared to its average volume of 4,516,031. The stock has a fifty day simple moving average of $21.00 and a 200-day simple moving average of $21.40. The company has a market capitalization of $14.34 billion, a P/E ratio of 27.53, a PEG ratio of 1.50 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.47 and a quick ratio of 3.47. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $536.62 million for 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%. Kimco Realty's revenue was up 965.3% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.25 dividend. 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 presently 129.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Kimco Realty from a "hold" rating to a "sell" rating in a research note on Saturday. Wells Fargo & Company lowered their price objective on Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Raymond James Financial lowered their price objective on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Monday, May 5th. Barclays assumed coverage on Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price objective on the stock. Finally, Scotiabank lowered their price objective on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Kimco Realty currently has an average rating of "Hold" and a consensus target price of $24.70.

Kimco Realty Company 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.