CIBC Asset Management Inc Has $743,000 Position in Kimco Realty Corporation (NYSE:KIM)
CIBC Asset Management Inc boosted its position in shares of Kimco Realty Corporation (NYSE:KIM) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,500 shares of the real estate investment trust’s stock after buying an additional 232 shares during the period. CIBC Asset Management Inc’s holdings in Kimco Realty Corporation were worth $743,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Sigma Planning Corp purchased a new stake in Kimco Realty Corporation during the first quarter worth $331,000. First Manhattan Co. raised its stake in Kimco Realty Corporation by 85.4% in the first quarter. First Manhattan Co. now owns 15,200 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 7,000 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Kimco Realty Corporation by 3.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,177 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 420 shares in the last quarter. Loeb Partners Corp raised its stake in Kimco Realty Corporation by 0.4% in the first quarter. Loeb Partners Corp now owns 69,600 shares of the real estate investment trust’s stock worth $1,537,000 after buying an additional 300 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in Kimco Realty Corporation by 16.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 55,841 shares of the real estate investment trust’s stock worth $1,234,000 after buying an additional 7,928 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.
Shares of Kimco Realty Corporation (NYSE:KIM) opened at 20.09 on Tuesday. Kimco Realty Corporation has a 52 week low of $17.02 and a 52 week high of $30.71. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 40.92 and a beta of 0.67. The stock has a 50 day moving average of $19.33 and a 200-day moving average of $20.85.
Kimco Realty Corporation (NYSE:KIM) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The company had revenue of $292.84 million during the quarter, compared to analysts’ expectations of $290.95 million. Kimco Realty Corporation had a net margin of 21.77% and a return on equity of 4.68%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. On average, analysts anticipate that Kimco Realty Corporation will post $0.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.38%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s payout ratio is currently 220.41%.
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A number of research firms have weighed in on KIM. Zacks Investment Research lowered shares of Kimco Realty Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. Boenning Scattergood restated a “hold” rating on shares of Kimco Realty Corporation in a research note on Friday, July 28th. TheStreet lowered shares of Kimco Realty Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, April 26th. Canaccord Genuity restated a “buy” rating and set a $34.00 price objective on shares of Kimco Realty Corporation in a research note on Thursday, April 27th. Finally, BidaskClub upgraded shares of Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $27.28.
In related news, Director Philip E. Coviello, Jr. acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average cost of $17.37 per share, with a total value of $347,400.00. Following the transaction, the director now directly owns 41,045 shares of the company’s stock, valued at approximately $712,951.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.90% of the company’s stock.
About Kimco Realty Corporation
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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