Victory Capital Management Inc. lowered its position in Kimco Realty Corp (NYSE:KIM) by 6.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,850,732 shares of the real estate investment trust’s stock after selling 137,169 shares during the period. Victory Capital Management Inc. owned about 0.43% of Kimco Realty Corp worth $40,883,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Profund Advisors LLC boosted its position in shares of Kimco Realty Corp by 0.3% in the first quarter. Profund Advisors LLC now owns 22,393 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 67 shares in the last quarter. Financial Advisory Service Inc. boosted its position in shares of Kimco Realty Corp by 1.0% in the first quarter. Financial Advisory Service Inc. now owns 11,200 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 112 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Kimco Realty Corp by 0.4% in the first quarter. Capstone Asset Management Co. now owns 52,286 shares of the real estate investment trust’s stock worth $1,155,000 after buying an additional 210 shares during the period. Loeb Partners Corp boosted its stake in Kimco Realty Corp by 0.4% in the first quarter. Loeb Partners Corp now owns 69,600 shares of the real estate investment trust’s stock worth $1,537,000 after buying an additional 300 shares during the period. Finally, Mutual of America Capital Management LLC boosted its stake in Kimco Realty Corp by 0.6% in the first quarter. Mutual of America Capital Management LLC now owns 54,453 shares of the real estate investment trust’s stock worth $1,203,000 after buying an additional 318 shares during the period. Institutional investors own 92.17% of the company’s stock.
Kimco Realty Corp (NYSE KIM) traded up 1.92% during mid-day trading on Friday, hitting $18.55. The stock had a trading volume of 5,474,917 shares. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 29.35 and a beta of 0.73. The company has a 50-day moving average of $19.12 and a 200-day moving average of $22.92. Kimco Realty Corp has a 12-month low of $17.02 and a 12-month high of $32.24.
Kimco Realty Corp (NYSE:KIM) last announced its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Kimco Realty Corp had a net margin of 32.40% and a return on equity of 6.88%. The company had revenue of $293.60 million for the quarter, compared to the consensus estimate of $291.46 million. During the same period in the previous year, the business earned $0.37 EPS. The company’s revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that Kimco Realty Corp will post $0.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Thursday, July 6th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.82%. The ex-dividend date is Monday, July 3rd. Kimco Realty Corp’s dividend payout ratio (DPR) is currently 135.00%.
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Several analysts recently commented on the company. ValuEngine cut Kimco Realty Corp from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Kimco Realty Corp from a “sell” rating to a “hold” rating in a research note on Thursday, March 2nd. Evercore ISI raised Kimco Realty Corp from a “hold” rating to an “outperform” rating in a research note on Friday, March 3rd. Robert W. Baird raised Kimco Realty Corp from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $29.00 to $25.00 in a research note on Monday, March 13th. Finally, Barclays PLC cut their price target on Kimco Realty Corp from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Kimco Realty Corp currently has an average rating of “Buy” and a consensus target price of $29.06.
In other news, Director Philip E. Coviello, Jr. bought 7,500 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were bought at an average cost of $19.44 per share, with a total value of $145,800.00. Following the purchase, the director now directly owns 41,045 shares in the company, valued at $797,914.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Philip E. Coviello, Jr. purchased 20,000 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was bought at an average cost of $17.37 per share, for a total transaction of $347,400.00. Following the completion of the purchase, the director now directly owns 41,045 shares of the company’s stock, valued at approximately $712,951.65. The disclosure for this purchase can be found here. 3.20% of the stock is owned by insiders.
About Kimco Realty Corp
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of December 31, 2016, the Company had interests in 525 shopping center properties, aggregating 85.4 million square feet of gross leasable area (GLA), located in 34 states, Puerto Rico and Canada.
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