Wealthfront Inc. grew its stake in Kimco Realty Corp (NYSE:KIM) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,532 shares of the real estate investment trust’s stock after buying an additional 10,494 shares during the quarter. Wealthfront Inc.’s holdings in Kimco Realty were worth $2,024,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in Kimco Realty in the third quarter worth about $105,000. Orinda Asset Management LLC purchased a new stake in Kimco Realty in the fourth quarter worth about $182,000. Eqis Capital Management Inc. bought a new position in shares of Kimco Realty in the third quarter worth about $201,000. Stoneridge Investment Partners LLC bought a new position in shares of Kimco Realty in the third quarter worth about $203,000. Finally, Kelman Lazarov Inc. bought a new position in shares of Kimco Realty in the fourth quarter worth about $189,000. Institutional investors and hedge funds own 89.45% of the company’s stock.
In other news, insider Milton Cooper purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was bought at an average cost of $19.20 per share, with a total value of $960,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently weighed in on the company. BMO Capital Markets set a $19.00 price objective on Kimco Realty and gave the stock a “hold” rating in a research note on Thursday, February 15th. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty in a research note on Friday. ValuEngine lowered Kimco Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays dropped their price objective on Kimco Realty from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Finally, Bank of America lowered Kimco Realty from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research note on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.81.
Kimco Realty Corp (NYSE:KIM) opened at $15.55 on Tuesday. Kimco Realty Corp has a one year low of $13.70 and a one year high of $24.75. The company has a market capitalization of $6,470.00, a P/E ratio of 17.47, a P/E/G ratio of 2.25 and a beta of 0.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.08 and a current ratio of 0.10.
Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, February 15th. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). Kimco Realty had a net margin of 35.48% and a return on equity of 7.85%. The firm had revenue of $310.63 million for the quarter, compared to the consensus estimate of $297.92 million. During the same period in the previous year, the company posted $0.38 earnings per share. Kimco Realty’s quarterly revenue was up 6.1% on a year-over-year basis. equities analysts anticipate that Kimco Realty Corp will post 1.44 EPS for the current year.
Kimco Realty declared that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Monday, April 2nd. Kimco Realty’s payout ratio is presently 128.74%.
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About Kimco Realty
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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