AMP Capital Investors Ltd Grows Position in Kimco Realty Corp (KIM)
AMP Capital Investors Ltd increased its position in Kimco Realty Corp (NYSE:KIM) by 50.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 394,756 shares of the real estate investment trust’s stock after buying an additional 133,033 shares during the period. AMP Capital Investors Ltd owned 0.09% of Kimco Realty worth $7,717,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Kimco Realty by 103.7% during 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 purchasing an additional 64,576 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Kimco Realty by 1.0% during 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 purchasing an additional 14,883 shares during the last quarter. GAM Holding AG grew its holdings in Kimco Realty by 10.2% during 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 purchasing an additional 7,585 shares during the last quarter. Andra AP fonden grew its holdings in Kimco Realty by 40.1% during 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 purchasing an additional 67,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Kimco Realty by 26.2% during 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 purchasing an additional 891,461 shares during the last quarter. Hedge funds and other institutional investors own 92.22% of the company’s stock.
Several equities analysts have commented on the company. BidaskClub downgraded Kimco Realty from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Boenning Scattergood reiterated a “hold” rating on shares of Kimco Realty in a report on Friday, August 18th. J P Morgan Chase & Co raised Kimco Realty from a “neutral” rating to an “overweight” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 26th. Stifel Nicolaus assumed coverage on Kimco Realty in a research report on Thursday, November 30th. They issued a “hold” rating and a $19.50 price objective for the company. Finally, Robert W. Baird cut Kimco Realty from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $20.00 in a research report on Monday, November 27th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.02.
In other news, insider Milton Cooper bought 50,000 shares of Kimco Realty stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average cost of $19.20 per share, with a total value of $960,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by company insiders.
Shares of Kimco Realty Corp (KIM) opened at $18.41 on Thursday. Kimco Realty Corp has a 12-month low of $17.02 and a 12-month high of $26.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $7,836.28, a P/E ratio of 12.19, a PEG ratio of 2.20 and a beta of 0.65.
Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.13). The business had revenue of $290.92 million during the quarter, compared to the consensus estimate of $295.34 million. Kimco Realty had a net margin of 35.51% and a return on equity of 7.73%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. sell-side analysts anticipate that Kimco Realty Corp will post 1.55 EPS for the current fiscal 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 given a $0.28 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Friday, December 29th. Kimco Realty’s dividend payout ratio (DPR) is 125.58%.
Kimco Realty 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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