Prudential Financial Inc. trimmed its position in shares of Kimco Realty Corporation (NYSE:KIM) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 580,481 shares of the real estate investment trust’s stock after selling 10,920 shares during the quarter. Prudential Financial Inc. owned 0.14% of Kimco Realty Corporation worth $10,652,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Global X Management Co. LLC boosted its holdings in Kimco Realty Corporation by 30.5% during the 1st quarter. Global X Management Co. LLC now owns 9,861 shares of the real estate investment trust’s stock valued at $218,000 after acquiring an additional 2,304 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Kimco Realty Corporation by 5.3% in the 1st quarter. Suntrust Banks Inc. now owns 9,930 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 504 shares during the period. Keybank National Association OH boosted its stake in shares of Kimco Realty Corporation by 25.1% in the 1st quarter. Keybank National Association OH now owns 10,623 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 2,133 shares during the period. Sawtooth Solutions LLC purchased a new position in shares of Kimco Realty Corporation in the 1st quarter valued at about $236,000. Finally, Financial Advisory Service Inc. boosted its stake in shares of Kimco Realty Corporation by 1.0% in the 1st quarter. Financial Advisory Service Inc. now owns 11,200 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 112 shares during the period. Institutional investors own 88.98% of the company’s stock.
Kimco Realty Corporation (NYSE:KIM) opened at 20.30 on Tuesday. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 41.34 and a beta of 0.67. The firm’s 50-day moving average price is $19.94 and its 200 day moving average price is $20.18. Kimco Realty Corporation has a 52-week low of $17.02 and a 52-week high of $30.24.
Kimco Realty Corporation (NYSE:KIM) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.07. Kimco Realty Corporation had a return on equity of 4.68% and a net margin of 21.77%. The firm had revenue of $292.84 million for the quarter, compared to the consensus estimate of $290.95 million. During the same period in the prior year, the business earned $0.37 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Kimco Realty Corporation will post $0.71 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio is presently 220.41%.
Several equities analysts have recently issued reports on the company. Boenning Scattergood reiterated a “hold” rating on shares of Kimco Realty Corporation in a research note on Friday, July 28th. BidaskClub upgraded Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. BMO Capital Markets assumed coverage on Kimco Realty Corporation in a research note on Monday. They issued a “market perform” rating and a $21.00 price objective for the company. Zacks Investment Research upgraded Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Citigroup Inc. lifted their price objective on Kimco Realty Corporation from $19.50 to $21.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.03.
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Kimco Realty Corporation Company Profile
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.
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