Foundry Partners LLC Invests $7.60 Million in Kimco Realty Corporation (KIM)
Foundry Partners LLC bought a new stake in Kimco Realty Corporation (NYSE:KIM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 388,900 shares of the real estate investment trust’s stock, valued at approximately $7,603,000. Foundry Partners LLC owned about 0.09% of Kimco Realty Corporation as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of KIM. Hamlin Capital Management LLC purchased a new stake in shares of Kimco Realty Corporation in the 2nd quarter valued at about $57,217,000. FMR LLC lifted its holdings in shares of Kimco Realty Corporation by 24.5% in the 2nd quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock valued at $224,251,000 after purchasing an additional 2,408,799 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Kimco Realty Corporation by 3.8% in the 2nd quarter. BlackRock Inc. now owns 41,368,865 shares of the real estate investment trust’s stock valued at $759,119,000 after purchasing an additional 1,506,999 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Kimco Realty Corporation by 4,014.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,147,429 shares of the real estate investment trust’s stock valued at $21,054,000 after purchasing an additional 1,119,544 shares during the last quarter. Finally, Third Avenue Management LLC purchased a new stake in shares of Kimco Realty Corporation in the 3rd quarter valued at about $21,120,000. 89.40% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the company. Boenning Scattergood reissued a “hold” rating on shares of Kimco Realty Corporation in a report on Friday, October 27th. BMO Capital Markets set a $21.00 price target on Kimco Realty Corporation and gave the company a “hold” rating in a research report on Wednesday, October 25th. Mizuho restated a “hold” rating and issued a $19.00 price target on shares of Kimco Realty Corporation in a research report on Monday, October 9th. J P Morgan Chase & Co upgraded Kimco Realty Corporation from a “neutral” rating to an “overweight” rating and set a $24.00 price target on the stock in a research report on Tuesday, September 26th. Finally, Argus cut Kimco Realty Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.43.
Shares of Kimco Realty Corporation (NYSE:KIM) opened at $18.57 on Friday. Kimco Realty Corporation has a 52 week low of $17.02 and a 52 week high of $26.63. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $7,904.38, a P/E ratio of 12.30, a P/E/G ratio of 2.02 and a beta of 0.65.
Kimco Realty Corporation (NYSE:KIM) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). Kimco Realty Corporation had a net margin of 35.51% and a return on equity of 7.73%. The company had revenue of $290.92 million during the quarter, compared to analysts’ expectations of $295.34 million. During the same period in the previous year, the company posted $0.38 EPS. Kimco Realty Corporation’s quarterly revenue was up 4.2% compared to the same quarter last year. equities analysts forecast that Kimco Realty Corporation will post 1.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.28 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.12 dividend on an annualized basis and a yield of 6.03%. This is a positive change from Kimco Realty Corporation’s previous quarterly dividend of $0.27. Kimco Realty Corporation’s dividend payout ratio is presently 125.58%.
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About Kimco Realty Corporation
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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