AlphaQuest LLC Buys 66,269 Shares of Kimco Realty Corporation $KIM

AlphaQuest LLC grew its stake in Kimco Realty Corporation (NYSE:KIM) by 124.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,706 shares of the real estate investment trust’s stock after purchasing an additional 66,269 shares during the period. AlphaQuest LLC’s holdings in Kimco Realty were worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH acquired a new stake in Kimco Realty in the second quarter valued at approximately $27,000. Quent Capital LLC bought a new position in shares of Kimco Realty in the 3rd quarter valued at $27,000. City Holding Co. acquired a new stake in shares of Kimco Realty during the 3rd quarter valued at $30,000. CYBER HORNET ETFs LLC bought a new stake in Kimco Realty during the 2nd quarter worth $37,000. Finally, Lavaca Capital LLC increased its holdings in Kimco Realty by 869.5% in the 2nd quarter. Lavaca Capital LLC now owns 1,939 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,739 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

NYSE:KIM opened at $21.06 on Friday. The company has a market capitalization of $14.26 billion, a PE ratio of 25.37, a P/E/G ratio of 1.13 and a beta of 1.05. The company has a 50 day simple moving average of $20.46 and a two-hundred day simple moving average of $21.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $23.03.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.24% and a return on equity of 5.60%. The firm had revenue of $535.86 million for the quarter, compared to the consensus estimate of $522.31 million. During the same quarter in the previous year, the company earned $0.43 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on KIM. Barclays reiterated an “overweight” rating and issued a $25.00 target price on shares of Kimco Realty in a research report on Tuesday, January 13th. Citigroup dropped their price objective on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Truist Financial cut their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. Scotiabank decreased their price target on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, November 13th. Finally, Wells Fargo & Company dropped their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus target price of $23.89.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.