State of Alaska Department of Revenue cut its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 55.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,393 shares of the real estate investment trust’s stock after selling 134,791 shares during the period. State of Alaska Department of Revenue’s holdings in Kimco Realty were worth $2,263,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Kimco Realty by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 69,187,786 shares of the real estate investment trust’s stock worth $1,278,592,000 after buying an additional 1,140,383 shares during the last quarter. Invesco Ltd. raised its stake in shares of Kimco Realty by 5.0% during the 2nd quarter. Invesco Ltd. now owns 9,925,026 shares of the real estate investment trust’s stock worth $183,414,000 after buying an additional 471,002 shares during the last quarter. Northern Trust Corp raised its stake in shares of Kimco Realty by 3.3% during the 2nd quarter. Northern Trust Corp now owns 8,764,985 shares of the real estate investment trust’s stock worth $161,978,000 after buying an additional 280,849 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kimco Realty by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,072,988 shares of the real estate investment trust’s stock worth $112,229,000 after buying an additional 180,177 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in shares of Kimco Realty by 80.5% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 4,841,819 shares of the real estate investment trust’s stock worth $762,014,000 after buying an additional 2,159,780 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.
KIM has been the subject of several research reports. Royal Bank of Canada downgraded Kimco Realty from an “outperform” rating to a “sector perform” rating and set a $19.00 price target for the company. in a research note on Thursday, August 22nd. TheStreet raised Kimco Realty from a “c+” rating to a “b-” rating in a research note on Thursday, September 26th. Bank of America raised Kimco Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $21.00 in a research note on Tuesday, June 11th. Morgan Stanley lifted their price target on Kimco Realty from $14.50 to $16.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Finally, ValuEngine cut Kimco Realty from a “sell” rating to a “strong sell” rating in a research report on Saturday. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $18.49.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.16). The company had revenue of $284.87 million for the quarter, compared to analysts’ expectations of $281.96 million. Kimco Realty had a return on equity of 7.23% and a net margin of 34.08%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. On average, sell-side analysts expect that Kimco Realty Corp will post 1.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Tuesday, October 1st. Kimco Realty’s payout ratio is currently 77.24%.
In other news, Director Richard B. Saltzman sold 5,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.06, for a total transaction of $100,300.00. Following the completion of the sale, the director now owns 80,835 shares in the company, valued at approximately $1,621,550.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.
Kimco Realty Profile
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.
See Also: Equity Income
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