Edgestream Partners L.P. Invests $3 Million in Kimco Realty Corporation $KIM

Edgestream Partners L.P. purchased a new stake in shares of Kimco Realty Corporation (NYSE:KIM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 133,478 shares of the real estate investment trust’s stock, valued at approximately $2,999,000.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new position in Kimco Realty during the 4th quarter valued at about $215,615,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Kimco Realty by 541.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust’s stock worth $137,756,000 after acquiring an additional 5,322,009 shares during the period. Invesco Ltd. lifted its stake in shares of Kimco Realty by 34.9% in the 4th quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock worth $344,933,000 after acquiring an additional 4,399,959 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Kimco Realty by 200.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,574,515 shares of the real estate investment trust’s stock worth $72,455,000 after acquiring an additional 2,383,236 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Kimco Realty by 77.6% in the first quarter. SG Americas Securities LLC now owns 4,308,961 shares of the real estate investment trust’s stock valued at $96,822,000 after acquiring an additional 1,883,072 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Performance

NYSE:KIM opened at $25.48 on Friday. The company has a 50-day moving average of $25.14 and a 200-day moving average of $23.54. The firm has a market cap of $17.18 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.80 and a beta of 0.95. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.78. Kimco Realty Corporation has a twelve month low of $19.76 and a twelve month high of $26.65.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.82%. The business had revenue of $558.02 million for the quarter, compared to the consensus estimate of $542.73 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts forecast that Kimco Realty Corporation will post 1.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KIM has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a research note on Sunday, April 26th. Evercore set a $25.00 target price on Kimco Realty in a research report on Friday, May 1st. Morgan Stanley increased their price target on Kimco Realty from $23.50 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Stifel Nicolaus set a $28.00 price target on Kimco Realty in a research report on Thursday, June 11th. Finally, UBS Group boosted their price objective on Kimco Realty from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.12.

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.