Park Avenue Securities LLC Acquires New Position in Kimco Realty Corp (NYSE:KIM)

Park Avenue Securities LLC acquired a new stake in Kimco Realty Corp (NYSE:KIM) in the third quarter, according to its most recent filing with the SEC. The fund acquired 9,837 shares of the real estate investment trust’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Kimco Realty by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares during the period. APG Asset Management US Inc. increased its holdings in Kimco Realty by 1.6% during 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 acquiring an additional 240,000 shares during the period. Centersquare Investment Management LLC lifted its stake in Kimco Realty by 76.8% in the 1st quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after purchasing an additional 6,282,891 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Kimco Realty by 11.7% in 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 purchasing an additional 1,193,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Kimco Realty by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,129,551 shares of the real estate investment trust’s stock valued at $197,116,000 after purchasing an additional 94,811 shares during the period. Institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

KIM has been the topic of a number of recent analyst reports. Raymond James upgraded 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 report on Friday, August 16th. Wells Fargo & Company boosted their price objective on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. The Goldman Sachs Group raised their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Piper Sandler reissued 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, Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and an average target price of $23.55.

Insider Transactions at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the sale, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

Kimco Realty Stock Performance

Kimco Realty stock opened at $23.41 on Tuesday. The stock’s 50 day moving average is $22.96 and its 200 day moving average is $20.58. The company has a market capitalization of $15.78 billion, a P/E ratio of 44.17, a PEG ratio of 3.95 and a beta of 1.50. Kimco Realty Corp has a twelve month low of $16.34 and a twelve month high of $24.25. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72.

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

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, September 5th. Kimco Realty’s payout ratio is 181.13%.

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.