Envestnet Asset Management Inc. Purchases 35,238 Shares of Kimco Realty Corporation $KIM

Envestnet Asset Management Inc. lifted its holdings in Kimco Realty Corporation (NYSE:KIM) by 21.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,092 shares of the real estate investment trust’s stock after acquiring an additional 35,238 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Kimco Realty were worth $4,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealthfront Advisers LLC boosted its stake in Kimco Realty by 4.1% in the second quarter. Wealthfront Advisers LLC now owns 144,870 shares of the real estate investment trust’s stock worth $3,045,000 after purchasing an additional 5,755 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Kimco Realty by 36.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 47,861 shares of the real estate investment trust’s stock valued at $1,006,000 after buying an additional 12,700 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Kimco Realty by 3,763.8% in the second quarter. AlphaQuest LLC now owns 53,437 shares of the real estate investment trust’s stock valued at $1,123,000 after buying an additional 52,054 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Kimco Realty during the 2nd quarter worth about $76,000. Finally, Asset Management One Co. Ltd. grew its holdings in Kimco Realty by 1.3% during the 2nd quarter. Asset Management One Co. Ltd. now owns 1,268,264 shares of the real estate investment trust’s stock worth $26,659,000 after acquiring an additional 16,844 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Stock Down 0.8%

Shares of NYSE:KIM opened at $20.42 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 1.56 and a beta of 1.28. The company has a 50 day moving average of $21.56 and a 200-day moving average of $21.39. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm had revenue of $535.86 million for the quarter, compared to analysts’ expectations of $522.31 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. On average, sell-side analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.26 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.04 annualized dividend and a dividend yield of 5.1%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.25. Kimco Realty’s dividend payout ratio is 125.30%.

Insider Activity at Kimco Realty

In related news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the sale, the director owned 40,260 shares in the company, valued at approximately $872,031.60. This represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KIM. Scotiabank dropped their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday. Wall Street Zen lowered shares of Kimco Realty from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Barclays boosted their price objective on shares of Kimco Realty from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Wells Fargo & Company started coverage on Kimco Realty in a report on Tuesday, October 21st. They set an “equal weight” rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Kimco Realty in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.27.

Kimco Realty 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.