Masterton Capital Management LP Acquires New Shares in Kimco Realty Corp (NYSE:KIM)

Masterton Capital Management LP purchased a new stake in shares of Kimco Realty Corp (NYSE:KIM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 228,613 shares of the real estate investment trust’s stock, valued at approximately $5,356,000. Kimco Realty comprises about 3.0% of Masterton Capital Management LP’s holdings, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of KIM. Summit Securities Group LLC acquired a new position in Kimco Realty during the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Kimco Realty in the third quarter valued at $31,000. Brown Brothers Harriman & Co. raised its stake in shares of Kimco Realty by 78.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 575 shares during the last quarter. Headlands Technologies LLC purchased a new position in Kimco Realty during the fourth quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC increased its holdings in Kimco Realty by 102.9% in the fourth quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,104 shares in the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and cut their price target for the stock from $28.00 to $25.00 in a report on Thursday, January 2nd. Citigroup decreased their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. JPMorgan Chase & Co. dropped their price objective on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Mizuho cut their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Wells Fargo & Company reduced their price target on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.68.

Kimco Realty Stock Performance

Shares of KIM opened at $20.50 on Tuesday. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $13.93 billion, a PE ratio of 36.61, a P/E/G ratio of 2.78 and a beta of 1.25. The firm has a 50-day moving average price of $20.76 and a 200 day moving average price of $22.62. Kimco Realty Corp has a 52-week low of $17.93 and a 52-week high of $25.83.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. On average, sell-side analysts anticipate that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date was Friday, March 7th. Kimco Realty’s dividend payout ratio (DPR) is presently 178.57%.

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.