Teachers Insurance & Annuity Association of America trimmed its stake in Kimco Realty Corp (NYSE:KIM) by 61.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 146,235 shares of the real estate investment trust’s stock after selling 232,088 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Kimco Realty were worth $2,702,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in KIM. Geode Capital Management LLC raised its holdings in shares of Kimco Realty by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 7,138,547 shares of the real estate investment trust’s stock valued at $104,438,000 after buying an additional 534,503 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Kimco Realty by 63.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,650 shares of the real estate investment trust’s stock valued at $382,000 after acquiring an additional 8,041 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in Kimco Realty by 8.3% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 63,728 shares of the real estate investment trust’s stock valued at $1,179,000 after acquiring an additional 4,900 shares in the last quarter. Comerica Bank boosted its position in Kimco Realty by 2.8% during the 1st quarter. Comerica Bank now owns 107,484 shares of the real estate investment trust’s stock worth $1,984,000 after acquiring an additional 2,968 shares during the period. Finally, California Public Employees Retirement System boosted its position in Kimco Realty by 19.0% during the 1st quarter. California Public Employees Retirement System now owns 901,932 shares of the real estate investment trust’s stock worth $16,686,000 after acquiring an additional 143,876 shares during the period. 88.73% of the stock is owned by institutional investors.
Shares of KIM traded up $0.03 during midday trading on Wednesday, reaching $20.14. The stock had a trading volume of 261,793 shares, compared to its average volume of 3,592,297. 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 company has a market capitalization of $8.34 billion, a P/E ratio of 13.90, a P/E/G ratio of 3.45 and a beta of 0.59. The firm’s 50 day moving average price is $18.78 and its 200-day moving average price is $18.25. Kimco Realty Corp has a 52 week low of $14.29 and a 52 week high of $20.13.
Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.16). Kimco Realty had a return on equity of 7.23% and a net margin of 34.08%. The firm had revenue of $284.87 million for the quarter, compared to analyst estimates of $281.96 million. During the same period in the previous year, the firm earned $0.37 earnings per share. Kimco Realty’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Kimco Realty Corp will post 1.46 earnings per share for the current year.
A number of research analysts have recently commented on KIM shares. Compass Point lowered Kimco Realty from a “neutral” rating to a “sell” rating and lowered their price target for the company from $19.00 to $17.75 in a report on Wednesday, September 4th. Morgan Stanley increased their target price on shares of Kimco Realty from $14.50 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. Citigroup raised their target price on shares of Kimco Realty from $18.00 to $18.50 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Bank of America raised shares of Kimco Realty from a “neutral” rating to a “buy” rating and raised their target price for the company from $19.00 to $21.00 in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada downgraded shares of Kimco Realty from an “outperform” rating to a “sector perform” rating and set a $19.00 price target on the stock. in a research report on Thursday, August 22nd. Five analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Kimco Realty presently has an average rating of “Hold” and a consensus target price of $18.49.
In related news, Director Frank Lourenso sold 3,380 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $18.84, for a total transaction of $63,679.20. Following the completion of the sale, the director now directly owns 198,106 shares of the company’s stock, valued at $3,732,317.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is owned by corporate insiders.
Kimco Realty 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.
Further Reading: Sell-Side Analysts
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