Ritholtz Wealth Management Purchases New Stake in Kimco Realty Corporation (NYSE:KIM)

Ritholtz Wealth Management acquired a new stake in Kimco Realty Corporation (NYSE:KIM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,383 shares of the real estate investment trust's stock, valued at approximately $263,000.

A number of other hedge funds have also modified their holdings of KIM. Baker Ellis Asset Management LLC raised its holdings in shares of Kimco Realty by 1.8% in the first quarter. Baker Ellis Asset Management LLC now owns 134,345 shares of the real estate investment trust's stock valued at $2,853,000 after buying an additional 2,417 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Kimco Realty by 20.0% during the 1st quarter. Handelsbanken Fonder AB now owns 193,542 shares of the real estate investment trust's stock valued at $4,111,000 after acquiring an additional 32,300 shares during the last quarter. SG Americas Securities LLC raised its stake in Kimco Realty by 3,689.2% during the 1st quarter. SG Americas Securities LLC now owns 709,410 shares of the real estate investment trust's stock valued at $15,068,000 after acquiring an additional 690,688 shares during the last quarter. Ibex Wealth Advisors lifted its position in Kimco Realty by 10.4% during the 1st quarter. Ibex Wealth Advisors now owns 13,113 shares of the real estate investment trust's stock worth $279,000 after acquiring an additional 1,236 shares during the period. Finally, Vert Asset Management LLC grew its stake in shares of Kimco Realty by 6.0% in the 1st quarter. Vert Asset Management LLC now owns 315,773 shares of the real estate investment trust's stock valued at $6,707,000 after purchasing an additional 17,966 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KIM shares. Wells Fargo & Company decreased their price target on Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Raymond James Financial reduced their target price on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Monday, May 5th. Mizuho dropped their price target on shares of Kimco Realty from $26.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Citigroup reduced their price objective on shares of Kimco Realty from $27.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Finally, Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.68.

Kimco Realty Price Performance

Shares of Kimco Realty stock traded up $0.02 during trading on Tuesday, hitting $21.24. 3,564,721 shares of the company were exchanged, compared to its average volume of 4,481,923. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $14.37 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 1.45 and a beta of 1.27. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The firm has a 50 day moving average price of $20.85 and a 200 day moving average price of $21.59.

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 EPS 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 26.79% and a return on equity of 5.17%. The company's quarterly revenue was up 965.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts expect that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date was Friday, June 6th. Kimco Realty's dividend payout ratio is presently 129.87%.

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.