AQR Capital Management LLC Acquires 541,391 Shares of Kimco Realty Corp (NYSE:KIM)

AQR Capital Management LLC boosted its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 1,006.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 595,170 shares of the real estate investment trust’s stock after acquiring an additional 541,391 shares during the period. AQR Capital Management LLC owned 0.09% of Kimco Realty worth $11,403,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of KIM. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Kimco Realty by 1.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock valued at $816,000 after purchasing an additional 522 shares during the last quarter. Cascade Investment Advisors Inc. raised its stake in Kimco Realty by 1.1% during the second quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock valued at $1,110,000 after buying an additional 640 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in Kimco Realty by 5.0% in the second quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 663 shares in the last quarter. Baker Ellis Asset Management LLC boosted its holdings in Kimco Realty by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock worth $2,545,000 after acquiring an additional 680 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 773 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $23.09 on Wednesday. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $24.25. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 43.57, a price-to-earnings-growth ratio of 4.03 and a beta of 1.51. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $22.64 and a 200 day moving average of $20.31.

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

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.16%. Kimco Realty’s payout ratio is currently 181.13%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KIM. Argus raised Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Truist Financial increased their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Robert W. Baird boosted their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group increased their target price on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.55.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the sale, the chief operating officer now owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

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.