Kentucky Retirement Systems Takes Position in Kimco Realty Corporation $KIM

Kentucky Retirement Systems bought a new position in shares of Kimco Realty Corporation (NYSE:KIM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,825 shares of the real estate investment trust’s stock, valued at approximately $760,000.

Several other hedge funds have also recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its holdings in Kimco Realty by 1.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust’s stock worth $663,000 after buying an additional 503 shares during the last quarter. Parallel Advisors LLC increased its stake in Kimco Realty by 11.2% during the 3rd quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 520 shares in the last quarter. EPG Wealth Management LLC raised its holdings in shares of Kimco Realty by 1.8% during the fourth quarter. EPG Wealth Management LLC now owns 30,771 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 530 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of Kimco Realty by 60.7% during the first quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 546 shares during the last quarter. Finally, Norinchukin Bank The lifted its position in shares of Kimco Realty by 0.8% in the third quarter. Norinchukin Bank The now owns 73,337 shares of the real estate investment trust’s stock valued at $1,602,000 after acquiring an additional 603 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Upgrades and Downgrades

KIM has been the topic of a number of research analyst reports. Jefferies Financial Group raised Kimco Realty to a “hold” rating in a research note on Friday, June 26th. Wall Street Zen raised Kimco Realty from a “sell” rating to a “hold” rating in a research note on Sunday, April 26th. UBS Group raised their price objective on Kimco Realty from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Morgan Stanley lifted their target price on shares of Kimco Realty from $23.50 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Finally, Stifel Nicolaus set a $28.00 target price on shares of Kimco Realty in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.12.

Kimco Realty Trading Down 0.1%

Shares of Kimco Realty stock opened at $25.48 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.78 and a quick ratio of 3.78. The stock’s 50 day simple moving average is $25.14 and its 200-day simple moving average is $23.54. The stock has a market cap of $17.18 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.81 and a beta of 0.95. Kimco Realty Corporation has a 1-year low of $19.76 and a 1-year high of $26.65.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. Kimco Realty had a return on equity of 5.82% and a net margin of 28.54%.The firm had revenue of $558.02 million during the quarter, compared to analysts’ expectations of $542.73 million. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts predict that Kimco Realty Corporation will post 1.83 EPS for the current fiscal year.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.