MQS Management LLC Acquires New Stake in Kimco Realty Corporation (NYSE:KIM)

MQS Management LLC bought a new position in Kimco Realty Corporation (NYSE:KIM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,138 shares of the real estate investment trust’s stock, valued at approximately $683,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Kimco Realty during the fourth quarter valued at $26,000. Brown Brothers Harriman & Co. lifted its position in shares of Kimco Realty by 78.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 575 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Kimco Realty by 177.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 911 shares during the period. WASHINGTON TRUST Co purchased a new position in Kimco Realty during the first quarter valued at approximately $34,000. Finally, Headlands Technologies LLC bought a new stake in shares of Kimco Realty during the 4th quarter valued at $45,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KIM has been the subject of a number of research reports. Wall Street Zen lowered shares of Kimco Realty from a “hold” rating to a “sell” rating in a research report on Saturday, July 5th. Citigroup lowered their price objective on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Scotiabank cut their target price on 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. Barclays assumed coverage on shares of Kimco Realty in a research report on Wednesday, July 2nd. They set an “overweight” rating and a $25.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Kimco Realty presently has an average rating of “Hold” and a consensus price target of $24.70.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $21.48 on Friday. The stock’s 50-day moving average is $21.07 and its two-hundred day moving average is $21.33. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.47 and a quick ratio of 3.47. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $25.83. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $536.62 million for the quarter, compared to the consensus estimate of $520.68 million. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. Kimco Realty’s revenue was up 965.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. Analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Friday, June 6th. Kimco Realty’s dividend payout ratio is currently 129.87%.

Kimco Realty Company Profile

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.