Wolverine Asset Management LLC Buys 9,471 Shares of Kimco Realty Corporation (NYSE:KIM)

Wolverine Asset Management LLC grew its stake in Kimco Realty Corporation (NYSE:KIM) by 370.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,031 shares of the real estate investment trust’s stock after acquiring an additional 9,471 shares during the period. Wolverine Asset Management LLC’s holdings in Kimco Realty were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KIM. Golden State Wealth Management LLC boosted its stake in shares of Kimco Realty by 177.6% during the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 911 shares in the last quarter. WASHINGTON TRUST Co purchased a new stake in Kimco Realty during the first quarter valued at approximately $34,000. Olde Wealth Management LLC purchased a new stake in Kimco Realty during the first quarter valued at approximately $41,000. Sentry Investment Management LLC purchased a new stake in Kimco Realty during the first quarter valued at approximately $45,000. Finally, Menard Financial Group LLC purchased a new stake in Kimco Realty during the fourth quarter valued at approximately $90,000. 89.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James Financial decreased their target price on shares of Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Monday, May 5th. Wall Street Zen raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Scotiabank decreased their target price on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Piper Sandler decreased their target price on shares of Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Finally, Barclays began coverage on shares of Kimco Realty in a report on Wednesday, July 2nd. They issued an “overweight” rating and a $25.00 price target for the company. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Kimco Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.57.

Kimco Realty Stock Up 0.1%

KIM stock opened at $20.83 on Tuesday. The firm has a market cap of $14.10 billion, a PE ratio of 25.09, a P/E/G ratio of 1.52 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The firm’s fifty day moving average is $21.26 and its 200 day moving average is $21.16. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. On average, research analysts forecast 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 will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.8%. Kimco Realty’s dividend payout ratio (DPR) is 120.48%.

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.