Intech Investment Management LLC Purchases New Holdings in Kimco Realty Corp (NYSE:KIM)

Intech Investment Management LLC purchased a new stake in Kimco Realty Corp (NYSE:KIM) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 12,155 shares of the real estate investment trust’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Kimco Realty by 613.5% in the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kimco Realty by 52.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 773 shares in the last quarter. UMB Bank n.a. lifted its stake in Kimco Realty by 112.6% in the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,787 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Kimco Realty in the 1st quarter worth approximately $70,000. Finally, Mather Group LLC. purchased a new position in Kimco Realty in the 1st quarter worth approximately $82,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

Kimco Realty stock opened at $22.96 on Friday. The stock has a market cap of $15.48 billion, a P/E ratio of 43.32, a price-to-earnings-growth ratio of 4.03 and a beta of 1.51. The company has a fifty day simple moving average of $22.61 and a 200-day simple moving average of $20.27. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $24.25. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $500.20 million for the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. Kimco Realty’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. Equities analysts expect that Kimco Realty Corp will post 1.62 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.18%. Kimco Realty’s dividend payout ratio (DPR) is presently 181.13%.

Analysts Set New Price Targets

A number of research analysts have weighed in on KIM shares. Evercore ISI raised their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank raised their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. The Goldman Sachs Group raised their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Robert W. Baird raised their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.

Insider Activity at Kimco Realty

In related news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the sale, the chief operating officer now directly owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by corporate insiders.

About Kimco Realty

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.