Adage Capital Partners GP L.L.C. Has $11.83 Million Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Adage Capital Partners GP L.L.C. trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 5.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 504,763 shares of the real estate investment trust’s stock after selling 30,700 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Kimco Realty were worth $11,827,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Kimco Realty during the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Kimco Realty in the 3rd quarter valued at about $31,000. Brown Brothers Harriman & Co. lifted its stake in Kimco Realty by 78.9% in 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 purchasing an additional 575 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Kimco Realty in the 4th quarter valued at about $45,000. Finally, Catalyst Capital Advisors LLC lifted its stake in Kimco Realty by 102.9% in the 4th quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,104 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on KIM. Jefferies Financial Group downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and cut their target price for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Citigroup cut their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Scotiabank cut their target price on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. lowered their target price on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.68.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $20.37 on Monday. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 2.78 and a beta of 1.25. Kimco Realty Corp has a one year low of $17.93 and a one year high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The stock’s fifty day moving average price is $20.78 and its two-hundred day moving average price is $22.64.

Kimco Realty (NYSE:KIM) last released its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) 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, equities analysts forecast that Kimco Realty Corp will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Friday, March 7th. Kimco Realty’s dividend payout ratio (DPR) is currently 178.57%.

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.