Pacific Heights Asset Management LLC Raises Stock Position in Kimco Realty Corporation (NYSE:KIM)

Pacific Heights Asset Management LLC boosted its stake in shares of Kimco Realty Corporation (NYSE:KIM) by 140.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 300,000 shares of the real estate investment trust’s stock after acquiring an additional 175,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Kimco Realty were worth $6,372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Kimco Realty in the 4th quarter valued at about $363,436,000. Northern Trust Corp increased its stake in Kimco Realty by 55.0% during the 4th quarter. Northern Trust Corp now owns 10,304,972 shares of the real estate investment trust’s stock worth $241,446,000 after buying an additional 3,658,528 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Kimco Realty by 90.5% during the fourth quarter. Federated Hermes Inc. now owns 7,278,480 shares of the real estate investment trust’s stock valued at $170,535,000 after acquiring an additional 3,457,435 shares during the last quarter. Invesco Ltd. lifted its position in shares of Kimco Realty by 18.3% in the fourth quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust’s stock valued at $407,301,000 after acquiring an additional 2,692,258 shares in the last quarter. Finally, Amundi lifted its position in shares of Kimco Realty by 70.7% in the fourth quarter. Amundi now owns 5,999,390 shares of the real estate investment trust’s stock valued at $132,227,000 after acquiring an additional 2,484,536 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Trading Up 0.8%

KIM opened at $21.62 on Friday. The stock has a market capitalization of $14.63 billion, a PE ratio of 28.08, a P/E/G ratio of 1.49 and a beta of 1.24. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.47 and a current ratio of 3.47. The business’s 50 day moving average price is $20.95 and its 200 day moving average price is $21.46.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $536.62 million during the quarter, compared to analysts’ expectations of $520.68 million. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. The company’s revenue was up 965.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. As a group, equities research analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Friday, June 6th. Kimco Realty’s dividend payout ratio (DPR) is presently 129.87%.

Analysts Set New Price Targets

KIM has been the subject of several research reports. Barclays initiated coverage on Kimco Realty in a research report on Wednesday. They set an “overweight” rating and a $25.00 price target for the company. Citigroup dropped their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Wall Street Zen raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Scotiabank lowered their price target on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Raymond James Financial cut their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating for the company in a report on Monday, May 5th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.70.

About Kimco Realty

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.