Assetmark Inc. Decreases Holdings in Kimco Realty Corp (NYSE:KIM)

Assetmark Inc. reduced its position in Kimco Realty Corp (NYSE:KIM) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,359 shares of the real estate investment trust’s stock after selling 5,045 shares during the period. Assetmark Inc.’s holdings in Kimco Realty were worth $1,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC grew its holdings in Kimco Realty by 71.0% during the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock valued at $3,531,000 after buying an additional 74,729 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Kimco Realty by 1.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 656,645 shares of the real estate investment trust’s stock valued at $12,824,000 after acquiring an additional 6,589 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Kimco Realty by 22.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,223,153 shares of the real estate investment trust’s stock worth $23,986,000 after purchasing an additional 224,102 shares during the period. Centersquare Investment Management LLC boosted its holdings in shares of Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after purchasing an additional 6,282,891 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Kimco Realty by 3.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 343,581 shares of the real estate investment trust’s stock worth $6,736,000 after buying an additional 11,216 shares during the period. 89.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Friday, August 16th. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Compass Point increased their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Mizuho cut shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus target price of $24.14.

Kimco Realty Trading Down 0.4 %

Shares of NYSE KIM opened at $24.72 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average price is $23.70 and its two-hundred day moving average price is $21.47. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.19. The stock has a market capitalization of $16.66 billion, a P/E ratio of 44.85, a PEG ratio of 3.26 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.22). The firm had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. On average, analysts anticipate that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.05%. Kimco Realty’s payout ratio is 174.55%.

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.