Kimco Realty Corp (NYSE:KIM) Director Frank Lourenso sold 3,380 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $15.29, for a total transaction of $51,680.20. Following the completion of the sale, the director now directly owns 182,481 shares of the company’s stock, valued at approximately $2,790,134.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Kimco Realty Corp (NYSE:KIM) traded down $0.09 during mid-day trading on Wednesday, hitting $14.59. 4,345,318 shares of the stock traded hands, compared to its average volume of 5,984,300. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.09 and a quick ratio of 0.09. Kimco Realty Corp has a 52 week low of $13.70 and a 52 week high of $23.03. The company has a market capitalization of $6,180.00, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 3.02 and a beta of 0.50.
Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.21). Kimco Realty had a return on equity of 7.85% and a net margin of 35.48%. The company had revenue of $310.63 million for the quarter, compared to the consensus estimate of $297.92 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. sell-side analysts predict that Kimco Realty Corp will post 1.44 earnings per share for the current fiscal year.
Kimco Realty declared that its Board of Directors has approved a stock buyback program on Thursday, February 15th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.68%. The ex-dividend date of this dividend is Monday, April 2nd. Kimco Realty’s payout ratio is 172.31%.
A number of institutional investors and hedge funds have recently made changes to their positions in KIM. Robeco Institutional Asset Management B.V. boosted its holdings in Kimco Realty by 1,324.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 285,005 shares of the real estate investment trust’s stock worth $5,571,000 after purchasing an additional 265,000 shares during the last quarter. Aperio Group LLC boosted its holdings in Kimco Realty by 42.4% during the third quarter. Aperio Group LLC now owns 247,388 shares of the real estate investment trust’s stock worth $4,836,000 after purchasing an additional 73,703 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in Kimco Realty by 2.9% during the third quarter. Pictet Asset Management Ltd. now owns 227,209 shares of the real estate investment trust’s stock worth $4,442,000 after purchasing an additional 6,300 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Kimco Realty during the third quarter worth $259,000. Finally, Honeywell International Inc. boosted its holdings in Kimco Realty by 27.8% during the third quarter. Honeywell International Inc. now owns 162,550 shares of the real estate investment trust’s stock worth $3,178,000 after purchasing an additional 35,310 shares during the last quarter. Institutional investors and hedge funds own 90.59% of the company’s stock.
Several equities research analysts have commented on KIM shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $19.00 target price on shares of Kimco Realty in a research note on Friday, February 23rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Kimco Realty in a research note on Friday, February 16th. BMO Capital Markets set a $19.00 target price on shares of Kimco Realty and gave the company a “hold” rating in a research note on Thursday, February 15th. ValuEngine downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $17.00 target price on shares of Kimco Realty in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $19.48.
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Kimco Realty Company Profile
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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