Vert Asset Management LLC Raises Stake in Kimco Realty Corp (NYSE:KIM)

Vert Asset Management LLC boosted its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 6.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 315,773 shares of the real estate investment trust’s stock after purchasing an additional 17,966 shares during the quarter. Kimco Realty comprises 2.3% of Vert Asset Management LLC’s portfolio, making the stock its 14th biggest position. Vert Asset Management LLC’s holdings in Kimco Realty were worth $6,707,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. First Citizens Bank & Trust Co. raised its holdings in shares of Kimco Realty by 2.7% during the first quarter. First Citizens Bank & Trust Co. now owns 102,997 shares of the real estate investment trust’s stock worth $2,188,000 after purchasing an additional 2,686 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Kimco Realty during the 1st quarter worth about $500,000. Unigestion Holding SA raised its stake in shares of Kimco Realty by 212.0% during the 1st quarter. Unigestion Holding SA now owns 108,041 shares of the real estate investment trust’s stock valued at $2,295,000 after buying an additional 73,409 shares during the last quarter. Sentry Investment Management LLC acquired a new position in shares of Kimco Realty in the 1st quarter valued at about $45,000. Finally, Czech National Bank boosted its stake in shares of Kimco Realty by 6.7% in the first quarter. Czech National Bank now owns 155,994 shares of the real estate investment trust’s stock worth $3,313,000 after buying an additional 9,839 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Raymond James reduced their price target on Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. cut their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Wall Street Zen cut shares of Kimco Realty from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Citigroup dropped their price target on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Wells Fargo & Company decreased their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.68.

Kimco Realty Trading Up 0.8%

Shares of Kimco Realty stock opened at $21.00 on Monday. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a twelve month low of $17.93 and a twelve month high of $25.83. The firm has a market capitalization of $14.20 billion, a PE ratio of 37.49, a P/E/G ratio of 2.78 and a beta of 1.27. The firm’s 50-day moving average price is $20.59 and its 200 day moving average price is $21.95.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $536.62 million during the quarter, compared to analysts’ expectations of $520.68 million. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. The business’s revenue was up 965.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, sell-side analysts predict that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.76%. Kimco Realty’s payout ratio is currently 129.87%.

Kimco Realty Company Profile

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.