Yoffe Investment Management LLC acquired a new stake in shares of Kimco Realty Corp (NYSE:KIM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,176 shares of the real estate investment trust's stock, valued at approximately $379,000.
A number of other large investors also recently modified their holdings of the company. State Street Corp grew its position in Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust's stock valued at $1,048,797,000 after acquiring an additional 882,047 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Kimco Realty by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust's stock valued at $411,179,000 after purchasing an additional 377,074 shares in the last quarter. Norges Bank bought a new position in shares of Kimco Realty during the 4th quarter valued at $363,436,000. Charles Schwab Investment Management Inc. raised its position in Kimco Realty by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,581,547 shares of the real estate investment trust's stock worth $224,496,000 after purchasing an additional 101,293 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Kimco Realty by 5.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,949,070 shares of the real estate investment trust's stock worth $186,247,000 after purchasing an additional 414,155 shares during the period. 89.25% of the stock is owned by hedge funds and other institutional investors.
Kimco Realty Stock Down 1.7 %
KIM stock traded down $0.32 on Wednesday, reaching $18.38. 2,394,572 shares of the company traded hands, compared to its average volume of 4,326,212. The firm has a fifty day simple moving average of $21.32 and a 200-day simple moving average of $22.92. The company has a market cap of $12.49 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59.
Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Research analysts anticipate that Kimco Realty Corp will post 1.71 earnings per share for the current year.
Kimco Realty Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 5.44%. Kimco Realty's payout ratio is currently 178.57%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on KIM shares. Jefferies Financial Group cut Kimco Realty from a "buy" rating to a "hold" rating and reduced their price objective for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their price target on Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Kimco Realty from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Evercore ISI decreased 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 note on Tuesday, December 24th. Finally, Citigroup dropped their price target on shares of Kimco Realty from $27.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $24.75.
Read Our Latest Research Report on KIM
Kimco Realty 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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