South Dakota Investment Council increased its position in shares of Kimco Realty (NYSE:KIM) by 734.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 957,729 shares of the real estate investment trust’s stock after acquiring an additional 842,960 shares during the quarter. South Dakota Investment Council owned 0.23% of Kimco Realty worth $13,791,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Bfsg LLC acquired a new stake in shares of Kimco Realty during the first quarter valued at approximately $190,000. TIAA FSB acquired a new stake in shares of Kimco Realty during the fourth quarter valued at approximately $211,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Kimco Realty during the fourth quarter valued at approximately $228,000. Private Advisor Group LLC acquired a new stake in shares of Kimco Realty during the first quarter valued at approximately $251,000. Finally, American Asset Management Inc. acquired a new stake in shares of Kimco Realty during the first quarter valued at approximately $268,000. Institutional investors and hedge funds own 87.34% of the company’s stock.
Shares of Kimco Realty opened at $15.16 on Thursday, according to MarketBeat.com. Kimco Realty has a 52 week low of $13.16 and a 52 week high of $21.24. The company has a market cap of $6.42 billion, a P/E ratio of 9.78, a P/E/G ratio of 3.11 and a beta of 0.49. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.09.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, April 26th. The real estate investment trust reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). Kimco Realty had a net margin of 40.74% and a return on equity of 9.03%. The company had revenue of $304.08 million for the quarter, compared to analysts’ expectations of $298.97 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. equities research analysts predict that Kimco Realty will post 1.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Tuesday, July 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date is Monday, July 2nd. Kimco Realty’s payout ratio is presently 72.26%.
Kimco Realty announced that its board has approved a stock 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 purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of research firms have recently issued reports on KIM. Barclays cut their price target on shares of Kimco Realty from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. BMO Capital Markets set a $19.00 price target on shares of Kimco Realty and gave the company a “hold” rating in a report on Thursday, February 15th. ValuEngine lowered shares of Kimco Realty from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Bank of America lowered shares of Kimco Realty from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a report on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. Kimco Realty currently has a consensus rating of “Hold” and a consensus price target of $18.31.
In other Kimco Realty news, Director Frank Lourenso sold 3,380 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.
About Kimco Realty
Kimco Realty Corp. (NYSE: KIM) 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, 2017, the company owned interests in 492 U.S. shopping centers comprising 83 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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