Millennium Management LLC Purchases 878,217 Shares of Kimco Realty Corp (NYSE:KIM)

Millennium Management LLC boosted its position in Kimco Realty Corp (NYSE:KIM) by 146.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,477,297 shares of the real estate investment trust’s stock after buying an additional 878,217 shares during the period. Millennium Management LLC’s holdings in Kimco Realty were worth $28,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Kimco Realty by 613.5% during the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,816 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Kimco Realty by 52.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 773 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 1,787 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Kimco Realty during the 1st quarter worth $70,000. Finally, Mather Group LLC. bought a new position in shares of Kimco Realty in the first quarter worth $82,000. 89.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the transaction, the chief operating officer now owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.20% of the company’s stock.

Kimco Realty Price Performance

KIM stock opened at $22.87 on Friday. The company has a market capitalization of $15.42 billion, a P/E ratio of 43.15, a PEG ratio of 4.03 and a beta of 1.51. The company has a fifty day moving average price of $22.76 and a 200-day moving average price of $20.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. Kimco Realty Corp has a 52-week low of $16.34 and a 52-week high of $24.25.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. As a group, equities analysts expect that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Thursday, September 5th. Kimco Realty’s dividend payout ratio is presently 181.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Evercore ISI upped their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Truist Financial increased their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Robert W. Baird boosted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Finally, Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research note on Friday, August 16th. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Kimco Realty has a consensus rating of “Moderate Buy” and an average target price of $23.55.

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.