Wedbush Securities Inc. purchased a new position in Kimco Realty Corp (NYSE:KIM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,450 shares of the real estate investment trust’s stock, valued at approximately $193,000.
Other large investors also recently bought and sold shares of the company. Phocas Financial Corp. boosted its position in shares of Kimco Realty by 8.4% in the 1st quarter. Phocas Financial Corp. now owns 37,020 shares of the real estate investment trust’s stock worth $685,000 after purchasing an additional 2,860 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Kimco Realty by 3.5% in the 1st quarter. Synovus Financial Corp now owns 40,768 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 1,390 shares during the last quarter. Meiji Yasuda Life Insurance Co bought a new position in shares of Kimco Realty in the 1st quarter worth $285,000. State of Tennessee Treasury Department boosted its position in shares of Kimco Realty by 2.6% in the 1st quarter. State of Tennessee Treasury Department now owns 601,455 shares of the real estate investment trust’s stock worth $11,127,000 after purchasing an additional 15,178 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in Kimco Realty by 1.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 67,580 shares of the real estate investment trust’s stock worth $1,250,000 after acquiring an additional 1,277 shares in the last quarter. Institutional investors and hedge funds own 86.41% of the company’s stock.
Several research analysts have weighed in on the company. Bank of America upgraded Kimco Realty from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $19.00 to $21.00 in a report on Tuesday, June 11th. Citigroup lifted their target price on Kimco Realty from $18.00 to $18.50 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Raymond James lowered Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 target price on the stock. in a report on Tuesday, May 28th. Compass Point assumed coverage on Kimco Realty in a report on Thursday, August 15th. They set a “neutral” rating and a $19.00 target price on the stock. Finally, Zacks Investment Research upgraded Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $19.13.
In other news, Director Frank Lourenso sold 3,380 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $18.84, for a total value of $63,679.20. Following the sale, the director now directly owns 198,106 shares in the company, valued at $3,732,317.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.
KIM stock traded down $0.15 during midday trading on Tuesday, hitting $18.77. 22,805 shares of the company’s stock were exchanged, compared to its average volume of 3,884,811. The stock’s fifty day moving average price is $18.61 and its 200-day moving average price is $18.12. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market cap of $7.95 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 3.26 and a beta of 0.59. Kimco Realty Corp has a one year low of $14.29 and a one year high of $19.43.
Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.16). The business had revenue of $284.87 million for the quarter, compared to the consensus estimate of $281.96 million. Kimco Realty had a return on equity of 7.23% and a net margin of 34.08%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, analysts expect that Kimco Realty Corp will post 1.46 EPS for the current year.
Kimco Realty Company 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.
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