Kimco Realty Corporation (NYSE:KIM) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Kimco Realty by 105.9%, owning 1,259,781 shares valued at approximately $26.76 million after acquiring an additional 648,021 shares in the first quarter.
• Kimco Realty reported quarterly earnings of $0.44 per share, exceeding analysts' expectations of $0.42, while achieving a year-over-year revenue increase of 965.3%.
• The company declared a quarterly dividend of $0.25, translating to an annual yield of 4.55%, although its dividend payout ratio stands at a substantial 129.87%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 105.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,259,781 shares of the real estate investment trust's stock after acquiring an additional 648,021 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.19% of Kimco Realty worth $26,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KIM. HB Wealth Management LLC boosted its position in shares of Kimco Realty by 13.6% during the 1st quarter. HB Wealth Management LLC now owns 10,434 shares of the real estate investment trust's stock worth $222,000 after purchasing an additional 1,246 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Kimco Realty by 0.9% during the 1st quarter. TD Asset Management Inc now owns 237,352 shares of the real estate investment trust's stock valued at $5,041,000 after acquiring an additional 2,088 shares during the last quarter. Assetmark Inc. increased its stake in shares of Kimco Realty by 4.2% during the 1st quarter. Assetmark Inc. now owns 57,582 shares of the real estate investment trust's stock valued at $1,223,000 after acquiring an additional 2,332 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Kimco Realty by 94.0% during the 1st quarter. Cetera Investment Advisers now owns 63,327 shares of the real estate investment trust's stock worth $1,345,000 after purchasing an additional 30,683 shares during the period. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Kimco Realty by 4.3% during the 1st quarter. KLP Kapitalforvaltning AS now owns 628,100 shares of the real estate investment trust's stock worth $13,341,000 after purchasing an additional 25,900 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KIM. Wall Street Zen cut Kimco Realty from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Raymond James Financial reduced their target price on 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. Scotiabank reduced their target price on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler reduced their target price on Kimco Realty from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Barclays began coverage on Kimco Realty in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $24.70.

Kimco Realty Trading Down 2.0%

Shares of NYSE KIM traded down $0.43 during trading hours on Friday, hitting $20.81. The company's stock had a trading volume of 2,360,766 shares, compared to its average volume of 4,878,575. The business has a 50-day simple moving average of $21.25 and a 200-day simple moving average of $21.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.47 and a current ratio of 3.47. The stock has a market cap of $14.07 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 1.61 and a beta of 1.24. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $525.18 million during the quarter, compared to the consensus estimate of $524.75 million. Kimco Realty had a net margin of 26.79% and a return on equity of 5.17%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

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.