Kimco Realty Corporation (KIM) Stake Decreased by Commerce Bank
Commerce Bank cut its position in shares of Kimco Realty Corporation (NYSE:KIM) by 8.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,157 shares of the real estate investment trust’s stock after selling 8,986 shares during the quarter. Commerce Bank’s holdings in Kimco Realty Corporation were worth $1,900,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Kimco Realty Corporation by 103.7% in the second quarter. Royal Bank of Canada now owns 126,830 shares of the real estate investment trust’s stock valued at $2,327,000 after buying an additional 64,576 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Kimco Realty Corporation by 1.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,516,611 shares of the real estate investment trust’s stock valued at $27,830,000 after buying an additional 14,883 shares during the last quarter. GAM Holding AG lifted its stake in Kimco Realty Corporation by 10.2% in the second quarter. GAM Holding AG now owns 81,733 shares of the real estate investment trust’s stock valued at $1,500,000 after buying an additional 7,585 shares during the last quarter. Andra AP fonden lifted its stake in Kimco Realty Corporation by 40.1% in the second quarter. Andra AP fonden now owns 234,600 shares of the real estate investment trust’s stock valued at $4,305,000 after buying an additional 67,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Kimco Realty Corporation by 26.2% in the second quarter. Goldman Sachs Group Inc. now owns 4,289,479 shares of the real estate investment trust’s stock valued at $78,711,000 after buying an additional 891,461 shares during the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.
Shares of Kimco Realty Corporation (NYSE:KIM) traded up $0.05 during midday trading on Friday, hitting $19.35. 4,277,986 shares of the company were exchanged, compared to its average volume of 3,972,798. Kimco Realty Corporation has a fifty-two week low of $17.02 and a fifty-two week high of $26.63. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $8,236.39, a PE ratio of 12.81, a P/E/G ratio of 2.25 and a beta of 0.65.
Kimco Realty Corporation (NYSE:KIM) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). Kimco Realty Corporation had a net margin of 35.51% and a return on equity of 7.73%. The company had revenue of $290.92 million for the quarter, compared to the consensus estimate of $295.34 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Kimco Realty Corporation’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts expect that Kimco Realty Corporation will post 1.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.28 per share. This is a positive change from Kimco Realty Corporation’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Friday, December 29th. Kimco Realty Corporation’s payout ratio is presently 125.58%.
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A number of research firms have issued reports on KIM. Boenning Scattergood reiterated a “hold” rating on shares of Kimco Realty Corporation in a research note on Friday, July 28th. BidaskClub upgraded Kimco Realty Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. BMO Capital Markets began coverage on Kimco Realty Corporation in a research note on Monday, September 11th. They issued a “market perform” rating and a $21.00 target price on the stock. Zacks Investment Research upgraded Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Citigroup Inc. raised their target price on Kimco Realty Corporation from $19.50 to $21.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $24.25.
Kimco Realty Corporation Company 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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