The Manufacturers Life Insurance Company decreased its stake in Kimco Realty Corp (NYSE:KIM - Free Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 447,361 shares of the real estate investment trust's stock after selling 58,550 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Kimco Realty worth $10,482,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in Kimco Realty in the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Kimco Realty during the 3rd quarter valued at about $31,000. Brown Brothers Harriman & Co. increased its position 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 valued at $31,000 after purchasing an additional 575 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Kimco Realty during the 4th quarter valued at about $45,000. Finally, Catalyst Capital Advisors LLC lifted its position in 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 buying an additional 1,104 shares during the last quarter. 89.25% of the stock is owned by institutional investors.
Kimco Realty Trading Up 0.7 %
KIM stock traded up $0.14 on Friday, reaching $20.82. The company's stock had a trading volume of 3,218,402 shares, compared to its average volume of 4,443,740. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The business has a fifty day simple moving average of $20.56 and a two-hundred day simple moving average of $22.42. The firm has a market cap of $14.15 billion, a PE ratio of 37.18, a PEG ratio of 2.78 and a beta of 1.26. Kimco Realty Corp has a 12-month low of $17.93 and a 12-month 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, beating analysts' consensus estimates of $0.42 by $0.02. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The firm had revenue of $536.62 million for the quarter, compared to analyst estimates of $520.68 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The company's revenue for the quarter was up 965.3% compared to the same quarter last year. As a group, research analysts forecast that Kimco Realty Corp will post 1.71 EPS for the current year.
Kimco Realty Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 4.80%. Kimco Realty's payout ratio is 129.87%.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Wells Fargo & Company decreased 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 research note on Wednesday, March 26th. Raymond James decreased their target price on shares of 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. Mizuho cut their price target on shares of Kimco Realty from $26.00 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Citigroup decreased their price objective on Kimco Realty from $27.00 to $21.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Piper Sandler dropped their target price on Kimco Realty from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Kimco Realty presently has an average rating of "Moderate Buy" and an average target price of $24.68.
Read Our Latest Report on Kimco Realty
About Kimco Realty
(
Free Report)
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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