APG Asset Management US Inc. Boosts Stock Position in Kimco Realty Corp (NYSE:KIM)

APG Asset Management US Inc. increased its stake in Kimco Realty Corp (NYSE:KIM) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,953,570 shares of the real estate investment trust’s stock after acquiring an additional 240,000 shares during the period. Kimco Realty comprises about 1.7% of APG Asset Management US Inc.’s holdings, making the stock its 16th largest holding. APG Asset Management US Inc. owned approximately 2.22% of Kimco Realty worth $288,155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of Kimco Realty by 613.5% in the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 773 shares in the last quarter. UMB Bank n.a. increased its stake in Kimco Realty by 112.6% during the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 1,787 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Kimco Realty during the first quarter valued at approximately $70,000. Finally, Mather Group LLC. bought a new position in shares of Kimco Realty during the first quarter valued at approximately $82,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Down 1.1 %

Shares of KIM opened at $23.36 on Thursday. 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’s 50-day moving average is $22.54 and its two-hundred day moving average is $20.23. Kimco Realty Corp has a twelve month low of $16.34 and a twelve month high of $24.25. The firm has a market capitalization of $15.75 billion, a P/E ratio of 44.08, a PEG ratio of 4.03 and a beta of 1.51.

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

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Thursday, September 5th. Kimco Realty’s payout ratio is 181.13%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Argus upgraded Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Compass Point boosted their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price target on Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Evercore ISI raised their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.55.

Insider Activity at Kimco Realty

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