Exchange Traded Concepts LLC Purchases 21,491 Shares of Kimco Realty Corp (NYSE:KIM)

Exchange Traded Concepts LLC lifted its position in Kimco Realty Corp (NYSE:KIM) by 61.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,497 shares of the real estate investment trust’s stock after acquiring an additional 21,491 shares during the period. Exchange Traded Concepts LLC’s holdings in Kimco Realty were worth $1,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC bought a new position in Kimco Realty in the third quarter worth $17,636,000. Nordea Investment Management AB increased its stake in shares of Kimco Realty by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock worth $1,319,000 after acquiring an additional 3,614 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Kimco Realty during the 3rd quarter valued at about $2,387,000. Victory Capital Management Inc. boosted its stake in Kimco Realty by 48.8% during the third quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock worth $19,422,000 after acquiring an additional 274,295 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Kimco Realty by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock worth $220,131,000 after purchasing an additional 405,685 shares during the period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KIM. UBS Group boosted their price target on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Friday, December 20th. Mizuho upped their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Finally, Robert W. Baird lifted their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Eleven equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.84.

Kimco Realty Stock Performance

KIM stock opened at $23.42 on Tuesday. The company has a market cap of $15.79 billion, a P/E ratio of 42.58, a price-to-earnings-growth ratio of 2.87 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.83. The stock’s fifty day moving average price is $23.79 and its 200-day moving average price is $23.26.

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

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is currently 181.82%.

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.