Virtu Financial LLC Takes $479,000 Position in Kimco Realty Corp (KIM)
Virtu Financial LLC acquired a new position in shares of Kimco Realty Corp (NYSE:KIM) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 25,866 shares of the real estate investment trust’s stock, valued at approximately $479,000.
Other hedge funds have also made changes to their positions in the company. Liberty Wealth Management LLC acquired a new position in Kimco Realty in the 4th quarter worth about $30,000. CSat Investment Advisory L.P. increased its holdings in Kimco Realty by 35.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 2,176 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 566 shares in the last quarter. Enlightenment Research LLC acquired a new position in Kimco Realty in the 4th quarter worth about $62,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Kimco Realty in the 4th quarter worth about $107,000. Finally, Shulman DeMeo Asset Management LLC acquired a new position in Kimco Realty in the 4th quarter worth about $152,000. Institutional investors and hedge funds own 87.11% of the company’s stock.
In other news, COO David Jamieson sold 16,435 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $18.33, for a total value of $301,253.55. Following the completion of the sale, the chief operating officer now owns 94,211 shares of the company’s stock, valued at $1,726,887.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard B. Saltzman sold 5,500 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $18.39, for a total value of $101,145.00. Following the completion of the sale, the director now directly owns 81,335 shares of the company’s stock, valued at approximately $1,495,750.65. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Thursday, January 31st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.18). The company had revenue of $284.20 million during the quarter, compared to analyst estimates of $278.28 million. Kimco Realty had a net margin of 41.49% and a return on equity of 8.84%. As a group, research analysts predict that Kimco Realty Corp will post 1.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a $0.28 dividend. The ex-dividend date was Monday, April 1st. This represents a $1.12 annualized dividend and a dividend yield of 6.39%. Kimco Realty’s payout ratio is 77.24%.
A number of brokerages have issued reports on KIM. Evercore ISI cut Kimco Realty from an “in-line” rating to an “underperform” rating in a report on Monday, April 1st. They noted that the move was a valuation call. Zacks Investment Research raised Kimco Realty from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, ValuEngine raised Kimco Realty from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.60.
About Kimco Realty
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.
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