Kimco Realty Corporation (KIM) Stake Raised by Synovus Financial Corp

Synovus Financial Corp lifted its position in Kimco Realty Corporation (NYSE:KIM) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,025 shares of the real estate investment trust’s stock after buying an additional 531 shares during the quarter. Synovus Financial Corp’s holdings in Kimco Realty Corporation were worth $293,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of Kimco Realty Corporation by 32.6% in the first quarter. Wells Fargo & Company MN now owns 983,249 shares of the real estate investment trust’s stock worth $21,719,000 after buying an additional 241,457 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of Kimco Realty Corporation by 52.5% in the first quarter. Cibc World Markets Corp now owns 44,437 shares of the real estate investment trust’s stock worth $982,000 after buying an additional 15,301 shares in the last quarter. BB&T Securities LLC lifted its holdings in shares of Kimco Realty Corporation by 7.6% in the first quarter. BB&T Securities LLC now owns 130,979 shares of the real estate investment trust’s stock worth $2,893,000 after buying an additional 9,249 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Kimco Realty Corporation by 5.0% in the first quarter. California Public Employees Retirement System now owns 961,886 shares of the real estate investment trust’s stock worth $21,248,000 after buying an additional 45,900 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of Kimco Realty Corporation by 6.5% in the first quarter. Comerica Bank now owns 143,904 shares of the real estate investment trust’s stock worth $2,974,000 after buying an additional 8,793 shares in the last quarter. 88.98% of the stock is currently owned by hedge funds and other institutional investors.

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KIM has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Kimco Realty Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Kimco Realty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) raised shares of Kimco Realty Corporation from a “sell” rating to a “neutral” rating and set a $18.70 price target on the stock in a report on Tuesday, June 20th. Barclays PLC lowered their price target on shares of Kimco Realty Corporation from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, June 26th. Finally, Zacks Investment Research downgraded shares of Kimco Realty Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $26.54.

Kimco Realty Corporation (KIM) opened at 20.17 on Friday. The company has a market capitalization of $8.59 billion, a PE ratio of 41.08 and a beta of 0.67. The firm’s 50-day moving average is $19.91 and its 200-day moving average is $20.27. Kimco Realty Corporation has a 12 month low of $17.02 and a 12 month high of $30.24.

Kimco Realty Corporation (NYSE:KIM) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The firm had revenue of $292.84 million for the quarter, compared to analysts’ expectations of $290.95 million. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. Equities analysts anticipate that Kimco Realty Corporation will post $0.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.08 annualized dividend and a dividend yield of 5.35%. Kimco Realty Corporation’s dividend payout ratio (DPR) is 220.41%.

About Kimco Realty Corporation

Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.

Institutional Ownership by Quarter for Kimco Realty Corporation (NYSE:KIM)

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