Lord Abbett & CO. LLC Buys Shares of 759,512 Kimco Realty Corp (NYSE:KIM)

Lord Abbett & CO. LLC purchased a new position in shares of Kimco Realty Corp (NYSE:KIM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 759,512 shares of the real estate investment trust's stock, valued at approximately $17,636,000. Lord Abbett & CO. LLC owned 0.11% of Kimco Realty at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Kimco Realty in the third quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Kimco Realty in the 3rd quarter valued at approximately $31,000. Brooklyn Investment Group purchased a new stake in Kimco Realty in the 3rd quarter valued at approximately $37,000. Blue Trust Inc. raised its stake in shares of Kimco Realty by 613.5% during the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust's stock worth $41,000 after buying an additional 1,816 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at approximately $51,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Trading Down 0.7 %

KIM stock traded down $0.18 during midday trading on Monday, reaching $24.44. 4,605,949 shares of the company's stock traded hands, compared to its average volume of 4,517,834. Kimco Realty Corp has a fifty-two week low of $17.57 and a fifty-two week high of $25.83. The business has a 50-day moving average price of $24.50 and a two-hundred day moving average price of $22.46. The company has a market capitalization of $16.47 billion, a P/E ratio of 45.29, a PEG ratio of 3.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The company had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts forecast that Kimco Realty Corp will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.25 per share. This is an increase from Kimco Realty's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 annualized dividend and a yield of 4.09%. Kimco Realty's payout ratio is 181.82%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KIM shares. The Goldman Sachs Group upped their price objective on Kimco Realty from $20.00 to $22.50 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Compass Point raised their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Scotiabank boosted their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a "sector perform" rating in a report on Monday, November 25th. Wells Fargo & Company increased their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Wednesday, August 28th. Finally, Argus raised Kimco Realty to a "strong-buy" rating in a research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $24.70.

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.