World Asset Management Inc grew its position in Kimco Realty Corp (NYSE:KIM) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,073 shares of the real estate investment trust’s stock after acquiring an additional 619 shares during the quarter. World Asset Management Inc’s holdings in Kimco Realty were worth $611,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of KIM. Legacy Bridge LLC acquired a new stake in shares of Kimco Realty during the first quarter worth $43,000. Quadrant Capital Group LLC lifted its holdings in shares of Kimco Realty by 29.9% during the first quarter. Quadrant Capital Group LLC now owns 2,889 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 665 shares during the period. AllSquare Wealth Management LLC lifted its holdings in shares of Kimco Realty by 39.1% during the first quarter. AllSquare Wealth Management LLC now owns 3,200 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 900 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Kimco Realty during the second quarter worth $67,000. Finally, Proffitt & Goodson Inc. acquired a new stake in shares of Kimco Realty during the first quarter worth $98,000. 89.67% of the stock is owned by hedge funds and other institutional investors.
In other Kimco Realty news, Director Frank Lourenso sold 3,380 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $18.84, for a total value of $63,679.20. Following the completion of the sale, the director now owns 198,106 shares of the company’s stock, valued at $3,732,317.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by company insiders.
Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.16). Kimco Realty had a net margin of 34.08% and a return on equity of 7.23%. The business had revenue of $284.87 million during the quarter, compared to analyst estimates of $281.96 million. During the same period last year, the business posted $0.37 EPS. Kimco Realty’s revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts predict that Kimco Realty Corp will post 1.47 EPS for the current year.
KIM has been the subject of several recent research reports. Citigroup increased their price target on Kimco Realty from $18.00 to $18.50 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Zacks Investment Research raised Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, May 1st. ValuEngine downgraded Kimco Realty from a “hold” rating to a “sell” rating in a report on Thursday. Bank of America raised Kimco Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $21.00 in a report on Tuesday, June 11th. Finally, Raymond James downgraded Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 target price for the company. in a report on Tuesday, May 28th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.17.
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.
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