Fmr LLC Acquires 1,283,352 Shares of Kimco Realty Corp (NYSE:KIM)

Fmr LLC grew its stake in shares of Kimco Realty Corp (NYSE:KIM) by 6.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 22,339,918 shares of the real estate investment trust’s stock after purchasing an additional 1,283,352 shares during the period. Fmr LLC owned about 3.31% of Kimco Realty worth $518,733,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Catalyst Capital Advisors LLC bought a new stake in Kimco Realty during the third quarter worth $25,000. Blue Trust Inc. grew its stake in shares of Kimco Realty by 613.5% in the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 773 shares during the last quarter. Castleview Partners LLC bought a new position in shares of Kimco Realty during the third quarter valued at about $77,000. Finally, UMB Bank n.a. boosted its holdings in Kimco Realty by 112.6% during the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,787 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Scotiabank increased their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday, November 25th. Wells Fargo & Company lifted their price target on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mizuho cut Kimco Realty from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Finally, Robert W. Baird boosted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Kimco Realty Stock Down 0.8 %

Kimco Realty stock opened at $25.58 on Friday. The firm has a 50 day simple moving average of $24.14 and a 200 day simple moving average of $21.98. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.83. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 46.51, a P/E/G ratio of 3.37 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). The company had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. Kimco Realty’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. On average, analysts predict that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.91%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is presently 181.82%.

Kimco Realty Company 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.