Presima Inc. cut its position in shares of Kimco Realty Corp (NYSE:KIM) by 33.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,200 shares of the real estate investment trust’s stock after selling 30,800 shares during the quarter. Presima Inc.’s holdings in Kimco Realty were worth $1,132,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of KIM. Prudential Financial Inc. grew its position in Kimco Realty by 114.7% during the 4th quarter. Prudential Financial Inc. now owns 2,607,108 shares of the real estate investment trust’s stock worth $38,194,000 after acquiring an additional 1,393,007 shares during the last quarter. Strs Ohio grew its position in Kimco Realty by 6.8% during the 4th quarter. Strs Ohio now owns 630,582 shares of the real estate investment trust’s stock worth $9,238,000 after acquiring an additional 40,405 shares during the last quarter. Bank of New York Mellon Corp grew its position in Kimco Realty by 17.0% during the 4th quarter. Bank of New York Mellon Corp now owns 18,850,346 shares of the real estate investment trust’s stock worth $276,157,000 after acquiring an additional 2,739,388 shares during the last quarter. BlackRock Inc. grew its position in Kimco Realty by 1.2% during the 4th quarter. BlackRock Inc. now owns 40,770,079 shares of the real estate investment trust’s stock worth $597,281,000 after acquiring an additional 482,878 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Kimco Realty by 0.9% during the 3rd quarter. Legal & General Group Plc now owns 3,216,111 shares of the real estate investment trust’s stock worth $53,837,000 after acquiring an additional 27,860 shares during the last quarter. Institutional investors and hedge funds own 87.12% of the company’s stock.
A number of equities research analysts recently weighed in on KIM shares. Zacks Investment Research upgraded Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, May 1st. ValuEngine upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Evercore ISI lowered Kimco Realty from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Kimco Realty currently has an average rating of “Hold” and an average price target of $17.75.
Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). Kimco Realty had a net margin of 39.40% and a return on equity of 8.37%. The company had revenue of $295.00 million during the quarter, compared to the consensus estimate of $282.49 million. During the same quarter last year, the firm posted $0.39 EPS. The company’s quarterly revenue was down 3.0% on a year-over-year basis. Equities research analysts expect that Kimco Realty Corp will post 1.46 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be given a $0.28 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.22%. Kimco Realty’s dividend payout ratio (DPR) is presently 77.24%.
In other news, Director Richard B. Saltzman sold 5,500 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.39, for a total value of $101,145.00. Following the transaction, the director now directly owns 81,335 shares of the company’s stock, valued at approximately $1,495,750.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Jamieson sold 16,435 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $18.33, for a total value of $301,253.55. Following the completion of the transaction, the chief operating officer now directly owns 94,211 shares in the company, valued at $1,726,887.63. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
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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.
Further Reading: What is diluted earnings per share (Diluted EPS)?
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