ProShare Advisors LLC Acquires 8,336 Shares of Kimco Realty Corp (NYSE:KIM)

ProShare Advisors LLC raised its holdings in Kimco Realty Corp (NYSE:KIM) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,765 shares of the real estate investment trust’s stock after purchasing an additional 8,336 shares during the quarter. ProShare Advisors LLC’s holdings in Kimco Realty were worth $2,876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KIM. Asset Management One Co. Ltd. boosted its stake in Kimco Realty by 1.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,235,249 shares of the real estate investment trust’s stock valued at $28,868,000 after buying an additional 12,705 shares in the last quarter. B&I Capital AG lifted its holdings in shares of Kimco Realty by 13.9% in the fourth quarter. B&I Capital AG now owns 509,830 shares of the real estate investment trust’s stock worth $11,945,000 after acquiring an additional 62,100 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Kimco Realty in the fourth quarter worth about $610,000. Proficio Capital Partners LLC acquired a new stake in shares of Kimco Realty in the 4th quarter valued at approximately $1,045,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Kimco Realty during the 4th quarter valued at approximately $546,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Kimco Realty stock opened at $21.30 on Wednesday. The stock’s 50 day moving average is $20.61 and its 200 day moving average is $22.30. Kimco Realty Corp has a one year low of $17.93 and a one year high of $25.83. The firm has a market cap of $14.41 billion, a P/E ratio of 38.04, a P/E/G ratio of 2.78 and a beta of 1.26. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The firm had revenue of $536.62 million during the quarter, compared to analyst estimates of $520.68 million. During the same quarter last year, the business earned $0.39 EPS. The company’s revenue was up 965.3% compared to the same quarter last year. As a group, research analysts expect that Kimco Realty Corp will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.69%. Kimco Realty’s dividend payout ratio (DPR) is currently 129.87%.

Analyst Ratings Changes

Several equities analysts recently commented on KIM shares. Citigroup dropped their price objective 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. Piper Sandler dropped their price target on Kimco Realty from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company cut their price objective on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Raymond James lowered their target price on Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating for the company in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their price target 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and an average target price of $24.68.

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.