Pictet Asset Management Ltd. Grows Stake in Kimco Realty Corporation (KIM)
Pictet Asset Management Ltd. grew its position in Kimco Realty Corporation (NYSE:KIM) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 227,209 shares of the real estate investment trust’s stock after buying an additional 6,300 shares during the period. Pictet Asset Management Ltd. owned 0.05% of Kimco Realty Corporation worth $4,442,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in KIM. Hamlin Capital Management LLC acquired a new stake in shares of Kimco Realty Corporation during the second quarter worth $57,217,000. FMR LLC grew its stake in shares of Kimco Realty Corporation by 24.5% during the second quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock worth $224,251,000 after purchasing an additional 2,408,799 shares during the period. BlackRock Inc. grew its stake in shares of Kimco Realty Corporation by 3.8% during the second quarter. BlackRock Inc. now owns 41,368,865 shares of the real estate investment trust’s stock worth $759,119,000 after purchasing an additional 1,506,999 shares during the period. Commonwealth Bank of Australia grew its stake in shares of Kimco Realty Corporation by 4,014.9% during the second quarter. Commonwealth Bank of Australia now owns 1,147,429 shares of the real estate investment trust’s stock worth $21,054,000 after purchasing an additional 1,119,544 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Kimco Realty Corporation by 150.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 1,786,000 shares of the real estate investment trust’s stock worth $32,773,000 after purchasing an additional 1,074,000 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.
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Kimco Realty Corporation (NYSE KIM) opened at $19.15 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $8,151.25, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.22 and a beta of 0.65. Kimco Realty Corporation has a twelve month low of $17.02 and a twelve month high of $26.63.
Kimco Realty Corporation (NYSE:KIM) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.13). The business had revenue of $290.92 million for the quarter, compared to the consensus estimate of $295.34 million. Kimco Realty Corporation had a return on equity of 7.73% and a net margin of 35.51%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. equities analysts predict that Kimco Realty Corporation will post 1.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.85%. This is a positive change from Kimco Realty Corporation’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, December 29th. Kimco Realty Corporation’s payout ratio is 125.58%.
A number of brokerages recently commented on KIM. BidaskClub cut Kimco Realty Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty Corporation in a research note on Friday, August 18th. Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price objective on shares of Kimco Realty Corporation in a research note on Friday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $25.00 price objective on shares of Kimco Realty Corporation in a research note on Friday, August 4th. Finally, Zacks Investment Research raised Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $24.25.
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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