Millennium Management LLC lifted its holdings in Kimco Realty Corp (NYSE:KIM) by 822.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,283,225 shares of the real estate investment trust’s stock after buying an additional 2,927,280 shares during the quarter. Millennium Management LLC owned approximately 0.77% of Kimco Realty worth $59,591,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Rodgers Brothers Inc. purchased a new stake in shares of Kimco Realty in the fourth quarter worth approximately $352,000. Two Sigma Investments LP grew its stake in Kimco Realty by 47,803.2% in the fourth quarter. Two Sigma Investments LP now owns 906,360 shares of the real estate investment trust’s stock worth $16,450,000 after purchasing an additional 908,260 shares in the last quarter. Two Sigma Advisers LP grew its stake in Kimco Realty by 948.6% in the fourth quarter. Two Sigma Advisers LP now owns 271,743 shares of the real estate investment trust’s stock worth $4,932,000 after purchasing an additional 245,828 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Kimco Realty by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,266,477 shares of the real estate investment trust’s stock worth $77,436,000 after purchasing an additional 455,435 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America grew its stake in Kimco Realty by 9.4% in the fourth quarter. Teachers Insurance & Annuity Association of America now owns 451,921 shares of the real estate investment trust’s stock worth $8,202,000 after purchasing an additional 38,778 shares in the last quarter. Hedge funds and other institutional investors own 90.58% of the company’s stock.
Shares of Kimco Realty stock opened at $14.54 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $6,186.12, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 2.99 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.
Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.21). The company had revenue of $310.63 million for the quarter, compared to the consensus estimate of $297.92 million. Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. equities research analysts forecast 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. Shareholders of record on Tuesday, April 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, April 2nd. This represents a $1.12 annualized dividend and a yield of 7.70%. Kimco Realty’s dividend payout ratio (DPR) is presently 128.74%.
Kimco Realty announced that its board has authorized a share buyback program on Thursday, February 15th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
KIM has been the topic of several research analyst reports. Robert W. Baird cut Kimco Realty from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $20.00 in a research note on Monday, November 27th. Stifel Nicolaus initiated coverage on Kimco Realty in a research note on Thursday, November 30th. They issued a “hold” rating and a $19.50 price objective on the stock. JPMorgan Chase & Co. cut Kimco Realty from an “overweight” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a research note on Friday, December 15th. Mizuho set a $20.00 price objective on Kimco Realty and gave the stock a “hold” rating in a research note on Monday, December 18th. Finally, ValuEngine cut Kimco Realty from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Kimco Realty presently has a consensus rating of “Hold” and a consensus target price of $19.48.
In other Kimco Realty news, Director Frank Lourenso sold 3,380 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $15.29, for a total transaction of $51,680.20. Following the sale, the director now owns 182,481 shares of the company’s stock, valued at approximately $2,790,134.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.
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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