Wolverine Asset Management LLC Lowers Position in Kimco Realty Corp (NYSE:KIM)

Wolverine Asset Management LLC trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 79.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,991 shares of the real estate investment trust’s stock after selling 23,469 shares during the quarter. Wolverine Asset Management LLC’s holdings in Kimco Realty were worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock valued at $2,162,347,000 after purchasing an additional 7,931,013 shares in the last quarter. APG Asset Management US Inc. increased its holdings in shares of Kimco Realty by 1.6% in the 2nd quarter. APG Asset Management US Inc. now owns 14,953,570 shares of the real estate investment trust’s stock worth $288,155,000 after buying an additional 240,000 shares during the last quarter. Centersquare Investment Management LLC raised its position in shares of Kimco Realty by 76.8% during the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock valued at $269,531,000 after buying an additional 6,282,891 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Kimco Realty by 11.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock worth $221,740,000 after acquiring an additional 1,193,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Kimco Realty by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,129,551 shares of the real estate investment trust’s stock worth $197,116,000 after acquiring an additional 94,811 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Trading Down 0.4 %

NYSE KIM opened at $24.72 on Friday. The stock has a market cap of $16.66 billion, a P/E ratio of 44.95, a price-to-earnings-growth ratio of 3.26 and a beta of 1.50. Kimco Realty Corp has a fifty-two week low of $17.57 and a fifty-two week high of $25.19. The stock has a 50 day simple moving average of $23.70 and a two-hundred day simple moving average of $21.47. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.05%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is currently 174.55%.

Wall Street Analyst Weigh In

KIM has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Evercore ISI upped their target price on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Scotiabank boosted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Argus raised shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.14.

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.