Kimco Realty Corp (NYSE:KIM) Director Frank Lourenso sold 3,380 shares of Kimco Realty stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $15.29, for a total value of $51,680.20. Following the completion of the sale, the director now directly owns 182,481 shares of the company’s stock, valued at $2,790,134.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Kimco Realty Corp (NYSE KIM) traded down $0.09 during trading hours on Wednesday, reaching $14.59. The company had a trading volume of 4,345,318 shares, compared to its average volume of 5,984,300. The stock has a market capitalization of $6,180.00, a price-to-earnings ratio of 22.32, a PEG ratio of 3.02 and a beta of 0.50. Kimco Realty Corp has a 52-week low of $13.70 and a 52-week high of $23.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.09 and a current ratio of 0.09.
Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.21). The company had revenue of $310.63 million during the quarter, compared to analysts’ expectations of $297.92 million. Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. equities analysts anticipate that Kimco Realty Corp will post 1.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 7.68%. Kimco Realty’s dividend payout ratio (DPR) is presently 172.31%.
Kimco Realty announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in KIM. Amundi Pioneer Asset Management Inc. purchased a new stake in Kimco Realty during the 4th quarter worth about $55,085,000. Millennium Management LLC lifted its holdings in Kimco Realty by 822.4% during the 4th quarter. Millennium Management LLC now owns 3,283,225 shares of the real estate investment trust’s stock worth $59,591,000 after buying an additional 2,927,280 shares during the last quarter. American Century Companies Inc. purchased a new stake in Kimco Realty during the 3rd quarter worth about $44,360,000. Bank of New York Mellon Corp lifted its holdings in Kimco Realty by 11.7% during the 4th quarter. Bank of New York Mellon Corp now owns 18,745,745 shares of the real estate investment trust’s stock worth $340,235,000 after buying an additional 1,959,743 shares during the last quarter. Finally, Security Capital Research & Management Inc. lifted its holdings in Kimco Realty by 67.7% during the 4th quarter. Security Capital Research & Management Inc. now owns 2,768,305 shares of the real estate investment trust’s stock worth $50,245,000 after buying an additional 1,117,717 shares during the last quarter. 90.59% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on KIM. Bank of America cut Kimco Realty from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research note on Friday, February 16th. BMO Capital Markets set a $19.00 price objective on Kimco Realty and gave the company a “hold” rating in a research note on Thursday, February 15th. ValuEngine cut Kimco Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays dropped their price objective on Kimco Realty from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Finally, SunTrust Banks set a $18.00 price objective on Kimco Realty and gave the company a “hold” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $19.48.
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About Kimco Realty
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.
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