Thrivent Financial For Lutherans boosted its position in shares of Kimco Realty Corporation (NYSE:KIM) by 1.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 178,099 shares of the real estate investment trust’s stock after buying an additional 2,720 shares during the period. Thrivent Financial For Lutherans’ holdings in Kimco Realty Corporation were worth $3,934,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Kimco Realty Corporation during the fourth quarter worth $74,839,000. JPMorgan Chase & Co. boosted its stake in Kimco Realty Corporation by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 35,695,241 shares of the real estate investment trust’s stock worth $788,509,000 after buying an additional 2,483,036 shares in the last quarter. Rothschild Asset Management Inc. boosted its stake in Kimco Realty Corporation by 126.3% in the first quarter. Rothschild Asset Management Inc. now owns 1,739,788 shares of the real estate investment trust’s stock worth $38,432,000 after buying an additional 970,874 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Kimco Realty Corporation by 1,744.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,016,666 shares of the real estate investment trust’s stock worth $22,458,000 after buying an additional 961,552 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Kimco Realty Corporation during the fourth quarter worth $20,113,000. Institutional investors and hedge funds own 90.52% of the company’s stock.
Shares of Kimco Realty Corporation (NYSE KIM) opened at 17.99 on Friday. The firm’s 50-day moving average is $18.65 and its 200 day moving average is $22.53. The firm has a market capitalization of $7.66 billion, a PE ratio of 28.47 and a beta of 0.68. Kimco Realty Corporation has a 52 week low of $17.02 and a 52 week high of $32.24.
Kimco Realty Corporation (NYSE:KIM) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.37 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. The company had revenue of $293.60 million for the quarter, compared to analyst estimates of $291.46 million. Kimco Realty Corporation had a net margin of 27.02% and a return on equity of 5.78%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that Kimco Realty Corporation will post $0.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Thursday, July 6th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Monday, July 3rd. Kimco Realty Corporation’s payout ratio is currently 168.75%.
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A number of analysts have recently weighed in on KIM shares. TheStreet cut shares of Kimco Realty Corporation from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Canaccord Genuity restated a “buy” rating and issued a $34.00 price target on shares of Kimco Realty Corporation in a report on Thursday, April 27th. Citigroup Inc. lowered their target price on shares of Kimco Realty Corporation from $26.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, May 9th. Zacks Investment Research upgraded shares of Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, Barclays PLC lowered their target price on shares of Kimco Realty Corporation from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $28.20.
In other news, Director Philip E. Coviello, Jr. acquired 20,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was acquired at an average cost of $17.37 per share, with a total value of $347,400.00. Following the completion of the acquisition, the director now owns 41,045 shares of the company’s stock, valued at $712,951.65. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Philip E. Coviello, Jr. acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was purchased at an average cost of $19.44 per share, with a total value of $145,800.00. Following the completion of the acquisition, the director now directly owns 41,045 shares of the company’s stock, valued at approximately $797,914.80. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by corporate insiders.
About Kimco Realty Corporation
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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