Fmr LLC Boosts Holdings in Kimco Realty Corporation (KIM)
Fmr LLC boosted its position in shares of Kimco Realty Corporation (NYSE:KIM) by 24.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,220,784 shares of the real estate investment trust’s stock after buying an additional 2,408,799 shares during the period. Fmr LLC owned 2.87% of Kimco Realty Corporation worth $224,251,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Northern Trust Corp raised its holdings in shares of Kimco Realty Corporation by 2.0% during the second quarter. Northern Trust Corp now owns 6,562,322 shares of the real estate investment trust’s stock valued at $120,418,000 after acquiring an additional 131,496 shares during the last quarter. Citigroup Inc. lifted its position in shares of Kimco Realty Corporation by 3.1% in the second quarter. Citigroup Inc. now owns 2,617,754 shares of the real estate investment trust’s stock valued at $48,036,000 after acquiring an additional 78,357 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Kimco Realty Corporation by 8.1% in the second quarter. UBS Asset Management Americas Inc. now owns 2,099,579 shares of the real estate investment trust’s stock valued at $38,527,000 after acquiring an additional 156,997 shares in the last quarter. Quantitative Investment Management LLC purchased a new position in shares of Kimco Realty Corporation in the second quarter valued at approximately $1,163,000. Finally, New York State Common Retirement Fund lifted its position in shares of Kimco Realty Corporation by 2.2% in the second quarter. New York State Common Retirement Fund now owns 935,800 shares of the real estate investment trust’s stock valued at $17,172,000 after acquiring an additional 20,499 shares in the last quarter. Institutional investors own 89.05% of the company’s stock.
KIM has been the subject of several research reports. BidaskClub upgraded Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Citigroup Inc. raised their price objective on Kimco Realty Corporation from $19.50 to $21.00 and gave the company a “neutral” rating in a report on Monday, August 14th. J P Morgan Chase & Co upgraded Kimco Realty Corporation from a “neutral” rating to an “overweight” rating and set a $24.00 price objective on the stock in a report on Tuesday, September 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty Corporation in a research note on Friday, August 18th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $25.00 target price on shares of Kimco Realty Corporation in a research note on Friday, August 4th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.97.
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Shares of Kimco Realty Corporation (NYSE:KIM) opened at 19.36 on Tuesday. The company has a 50 day moving average of $19.76 and a 200-day moving average of $19.83. Kimco Realty Corporation has a one year low of $17.02 and a one year high of $29.23. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 39.43 and a beta of 0.67.
Kimco Realty Corporation (NYSE:KIM) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.07). Kimco Realty Corporation had a net margin of 21.77% and a return on equity of 4.68%. The firm had revenue of $292.84 million for the quarter, compared to analysts’ expectations of $290.95 million. During the same period in the previous year, the company posted $0.37 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that Kimco Realty Corporation will post $0.70 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.08 annualized dividend and a yield of 5.58%. Kimco Realty Corporation’s payout ratio is currently 220.41%.
Kimco Realty Corporation Profile
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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