Twin Capital Management Inc. reduced its holdings in Kimco Realty Corp (NYSE:KIM) by 26.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 442,580 shares of the real estate investment trust’s stock after selling 160,370 shares during the quarter. Twin Capital Management Inc. owned approximately 0.10% of Kimco Realty worth $8,179,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. 6 Meridian increased its stake in Kimco Realty by 1.9% in the second quarter. 6 Meridian now owns 29,403 shares of the real estate investment trust’s stock valued at $543,000 after purchasing an additional 555 shares during the last quarter. SG Americas Securities LLC increased its stake in Kimco Realty by 0.3% during the first quarter. SG Americas Securities LLC now owns 213,328 shares of the real estate investment trust’s stock worth $3,947,000 after acquiring an additional 585 shares during the last quarter. Retirement Systems of Alabama increased its stake in Kimco Realty by 0.3% during the second quarter. Retirement Systems of Alabama now owns 196,819 shares of the real estate investment trust’s stock worth $3,637,000 after acquiring an additional 599 shares during the last quarter. World Asset Management Inc increased its stake in Kimco Realty by 1.9% during the second quarter. World Asset Management Inc now owns 33,073 shares of the real estate investment trust’s stock worth $611,000 after acquiring an additional 619 shares during the last quarter. Finally, Telos Capital Management Inc. increased its stake in Kimco Realty by 2.5% during the second quarter. Telos Capital Management Inc. now owns 25,379 shares of the real estate investment trust’s stock worth $469,000 after acquiring an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.
KIM has been the subject of several research analyst reports. Zacks Investment Research upgraded Kimco Realty from a “sell” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, May 1st. Bank of America upgraded Kimco Realty from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $21.00 in a research note on Tuesday, June 11th. ValuEngine downgraded Kimco Realty from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James downgraded Kimco Realty from an “outperform” rating to a “market perform” rating and set a $18.17 target price for the company. in a research report on Tuesday, May 28th. Finally, Compass Point began coverage on Kimco Realty in a research report on Thursday. They issued a “neutral” rating and a $19.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.13.
In related news, Director Frank Lourenso sold 3,380 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $18.84, for a total value of $63,679.20. Following the completion of the transaction, the director now owns 198,106 shares of the company’s stock, valued at $3,732,317.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is owned by corporate insiders.
Shares of NYSE KIM traded up $0.18 on Thursday, hitting $18.59. The company had a trading volume of 85,940 shares, compared to its average volume of 3,772,823. Kimco Realty Corp has a 12-month low of $14.29 and a 12-month high of $19.43. The company has a 50 day moving average price of $18.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 3.31 and a beta of 0.59.
Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.16). Kimco Realty had a return on equity of 7.23% and a net margin of 34.08%. The company had revenue of $284.87 million during the quarter, compared to analysts’ expectations of $281.96 million. During the same period in the previous year, the company earned $0.37 EPS. Kimco Realty’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts predict that Kimco Realty Corp will post 1.47 EPS for the current year.
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.
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