Edgestream Partners L.P. Acquires Shares of 93,783 Kimco Realty Corp (NYSE:KIM)

Edgestream Partners L.P. bought a new stake in Kimco Realty Corp (NYSE:KIM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 93,783 shares of the real estate investment trust’s stock, valued at approximately $1,825,000.

Other large investors have also recently modified their holdings of the company. Principal Securities Inc. acquired a new position in shares of Kimco Realty in the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC boosted its position in Kimco Realty by 17.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 717 shares during the last quarter. Norges Bank acquired a new stake in Kimco Realty during the 4th quarter worth about $150,326,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Kimco Realty by 34.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,293 shares of the real estate investment trust’s stock worth $944,000 after acquiring an additional 11,228 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Kimco Realty by 10.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 21,605 shares of the real estate investment trust’s stock worth $460,000 after buying an additional 2,060 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KIM shares. Evercore ISI increased their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday. Argus raised Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Compass Point boosted their price objective on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group lifted their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.55.

Kimco Realty Stock Down 1.3 %

Shares of NYSE:KIM opened at $23.24 on Friday. The company has a market capitalization of $15.67 billion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $24.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73. The business has a fifty day moving average price of $22.35 and a two-hundred day moving average price of $20.11.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. During the same period last year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts forecast that Kimco Realty Corp will post 1.62 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.13%. The ex-dividend date was Thursday, September 5th. Kimco Realty’s dividend payout ratio is presently 181.13%.

Insider Buying and Selling at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $21.92, for a total value of $1,096,000.00. Following the completion of the sale, the chief operating officer now owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.20% of the company’s stock.

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.