AMP Capital Investors Ltd reduced its position in Kimco Realty Corp (NYSE:KIM) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 443,629 shares of the real estate investment trust’s stock after selling 55,805 shares during the quarter. AMP Capital Investors Ltd owned about 0.11% of Kimco Realty worth $7,537,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Flinton Capital Management LLC raised its position in Kimco Realty by 90.5% in the second quarter. Flinton Capital Management LLC now owns 235,104 shares of the real estate investment trust’s stock valued at $3,994,000 after purchasing an additional 111,664 shares during the period. Twin Capital Management Inc. grew its stake in shares of Kimco Realty by 1.5% during the second quarter. Twin Capital Management Inc. now owns 319,950 shares of the real estate investment trust’s stock valued at $5,436,000 after acquiring an additional 4,640 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of Kimco Realty by 90.5% during the second quarter. Glen Harbor Capital Management LLC now owns 411,432 shares of the real estate investment trust’s stock valued at $6,990,000 after acquiring an additional 195,412 shares in the last quarter. Rampart Investment Management Company LLC grew its stake in shares of Kimco Realty by 1,953.5% during the second quarter. Rampart Investment Management Company LLC now owns 94,031 shares of the real estate investment trust’s stock valued at $1,598,000 after acquiring an additional 89,452 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its stake in shares of Kimco Realty by 6.0% during the second quarter. OppenheimerFunds Inc. now owns 140,984 shares of the real estate investment trust’s stock valued at $2,395,000 after acquiring an additional 8,022 shares in the last quarter. 86.24% of the stock is currently owned by institutional investors.
NYSE:KIM traded up $0.14 during mid-day trading on Friday, reaching $15.88. The stock had a trading volume of 2,798,299 shares, compared to its average volume of 4,378,678. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 3.63 and a beta of 0.38. Kimco Realty Corp has a 1-year low of $13.16 and a 1-year high of $19.79. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.09 and a current ratio of 0.09.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business had revenue of $293.40 million during the quarter, compared to the consensus estimate of $291.04 million. Kimco Realty had a return on equity of 9.40% and a net margin of 42.68%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. On average, equities research analysts forecast that Kimco Realty Corp will post 1.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, October 2nd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, October 1st. This represents a $1.12 dividend on an annualized basis and a yield of 7.05%. Kimco Realty’s dividend payout ratio (DPR) is 72.26%.
In other news, Director Philip E. Coviello, Jr. purchased 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was acquired at an average cost of $16.46 per share, for a total transaction of $90,530.00. Following the completion of the purchase, the director now owns 52,965 shares of the company’s stock, valued at $871,803.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.
KIM has been the subject of several recent analyst reports. Sandler O’Neill restated a “hold” rating and set a $18.00 target price on shares of Kimco Realty in a research note on Friday, July 27th. Stifel Nicolaus restated a “hold” rating and set a $17.00 target price on shares of Kimco Realty in a research note on Friday, July 27th. ValuEngine downgraded Kimco Realty from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. JPMorgan Chase & Co. upgraded Kimco Realty from a “neutral” rating to an “overweight” rating in a research note on Friday, June 15th. Finally, Wells Fargo & Co raised their target price on Kimco Realty from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $18.15.
Kimco Realty Profile
Kimco Realty Corp. (NYSE: KIM) 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 June 30, 2018, the company owned interests in 460 U.S. shopping centers comprising 79 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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