Pacific Heights Asset Management LLC reduced its stake in Kimco Realty Corp (NYSE:KIM - Free Report) by 58.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,000 shares of the real estate investment trust's stock after selling 175,000 shares during the quarter. Pacific Heights Asset Management LLC's holdings in Kimco Realty were worth $2,929,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of KIM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Kimco Realty by 842.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust's stock worth $145,420,000 after purchasing an additional 5,598,091 shares in the last quarter. FMR LLC increased its position in Kimco Realty by 6.1% during the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust's stock worth $518,733,000 after purchasing an additional 1,283,352 shares during the period. National Pension Service increased its position in Kimco Realty by 4,342.8% during the 4th quarter. National Pension Service now owns 1,078,262 shares of the real estate investment trust's stock worth $25,264,000 after purchasing an additional 1,053,992 shares during the period. State Street Corp raised its stake in shares of Kimco Realty by 2.0% during the 3rd quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust's stock worth $1,048,797,000 after buying an additional 882,047 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Kimco Realty in the 3rd quarter valued at approximately $17,636,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on KIM. JPMorgan Chase & Co. dropped their price objective on Kimco Realty from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Scotiabank lowered their price target on shares of Kimco Realty from $26.00 to $24.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Mizuho reduced their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Evercore ISI lowered their target price on shares of Kimco Realty from $24.00 to $23.00 and set an "in-line" rating on the stock in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company reduced their price target on shares of Kimco Realty from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Ten equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.43.
Read Our Latest Report on KIM
Kimco Realty Price Performance
Shares of NYSE:KIM traded down $0.62 on Tuesday, hitting $20.66. The company had a trading volume of 6,417,497 shares, compared to its average volume of 4,630,261. The company has a market cap of $14.03 billion, a PE ratio of 36.88, a PEG ratio of 2.78 and a beta of 1.53. The business has a 50 day moving average of $22.19 and a 200 day moving average of $23.35. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.
Kimco Realty (NYSE:KIM - Get Free Report) last released its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. As a group, equities analysts anticipate that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.
Kimco Realty Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.00 annualized dividend and a yield of 4.84%. Kimco Realty's payout ratio is currently 178.57%.
Kimco Realty Company Profile
(
Free Report)
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.
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