BB&T Securities LLC lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 44.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,999 shares of the real estate investment trust’s stock after selling 57,280 shares during the quarter. BB&T Securities LLC’s holdings in Kimco Realty were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Kimco Realty by 103.7% during the second quarter. Royal Bank of Canada now owns 126,830 shares of the real estate investment trust’s stock worth $2,327,000 after purchasing an additional 64,576 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Kimco Realty by 1.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,516,611 shares of the real estate investment trust’s stock worth $27,830,000 after purchasing an additional 14,883 shares in the last quarter. GAM Holding AG raised its holdings in Kimco Realty by 10.2% during the second quarter. GAM Holding AG now owns 81,733 shares of the real estate investment trust’s stock worth $1,500,000 after purchasing an additional 7,585 shares in the last quarter. Andra AP fonden raised its holdings in Kimco Realty by 40.1% during the second quarter. Andra AP fonden now owns 234,600 shares of the real estate investment trust’s stock worth $4,305,000 after purchasing an additional 67,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Kimco Realty by 26.2% during the second quarter. Goldman Sachs Group Inc. now owns 4,289,479 shares of the real estate investment trust’s stock worth $78,711,000 after purchasing an additional 891,461 shares in the last quarter. 92.22% of the stock is currently owned by institutional investors.
In other news, insider Milton Cooper acquired 50,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were purchased at an average cost of $19.20 per share, for a total transaction of $960,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.
Shares of Kimco Realty Corp (NYSE:KIM) traded down $0.44 on Thursday, hitting $18.04. 3,887,000 shares of the stock were exchanged, compared to its average volume of 4,423,124. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $7,866.08, a price-to-earnings ratio of 12.24, a PEG ratio of 2.21 and a beta of 0.65. Kimco Realty Corp has a twelve month low of $17.02 and a twelve month high of $26.63.
Kimco Realty (NYSE:KIM) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). Kimco Realty had a return on equity of 7.73% and a net margin of 35.51%. The business had revenue of $290.92 million for the quarter, compared to analysts’ expectations of $295.34 million. During the same quarter last year, the business posted $0.38 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. analysts expect that Kimco Realty Corp will post 1.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.21%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, December 29th. Kimco Realty’s dividend payout ratio (DPR) is 125.58%.
A number of analysts have weighed in on KIM shares. BMO Capital Markets set a $21.00 price objective on shares of Kimco Realty and gave the stock a “hold” rating in a report on Wednesday, October 25th. Argus cut shares of Kimco Realty from a “buy” rating to a “hold” rating in a report on Monday, August 28th. They noted that the move was a valuation call. Robert W. Baird reissued a “buy” rating and set a $23.00 price objective on shares of Kimco Realty in a report on Friday, November 10th. Mizuho restated a “hold” rating and set a $19.00 target price on shares of Kimco Realty in a research report on Monday, October 9th. Finally, Boenning Scattergood restated a “hold” rating on shares of Kimco Realty in a research report on Friday, October 27th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.02.
Kimco Realty Profile
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 June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
Want to see what other hedge funds are holding KIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimco Realty Corp (NYSE:KIM).
Receive News & Ratings for Kimco Realty Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimco Realty Corp and related companies with MarketBeat.com's FREE daily email newsletter.