LPL Financial LLC grew its stake in Kimco Realty Corp (NYSE:KIM – Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,423 shares of the real estate investment trust’s stock after buying an additional 5,787 shares during the quarter. LPL Financial LLC’s holdings in Kimco Realty were worth $1,547,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of KIM. Advisor Partners II LLC increased its stake in shares of Kimco Realty by 1.9% in the 4th quarter. Advisor Partners II LLC now owns 26,152 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 495 shares in the last quarter. Cascade Investment Advisors Inc. increased its stake in Kimco Realty by 0.9% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 54,380 shares of the real estate investment trust’s stock worth $1,072,000 after buying an additional 500 shares in the last quarter. Czech National Bank increased its stake in Kimco Realty by 0.7% during the 2nd quarter. Czech National Bank now owns 73,382 shares of the real estate investment trust’s stock worth $1,447,000 after buying an additional 521 shares in the last quarter. Proffitt & Goodson Inc. increased its stake in Kimco Realty by 10.3% during the 2nd quarter. Proffitt & Goodson Inc. now owns 5,796 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 541 shares in the last quarter. Finally, Joel Isaacson & Co. LLC increased its stake in Kimco Realty by 4.3% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 13,681 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 564 shares in the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Wells Fargo & Company upgraded Kimco Realty from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research note on Wednesday, September 20th. StockNews.com started coverage on Kimco Realty in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus dropped their price target on Kimco Realty from $23.25 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, October 3rd. Compass Point upgraded Kimco Realty from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Monday, August 28th. Finally, The Goldman Sachs Group cut Kimco Realty from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Wednesday, August 16th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.90.
Kimco Realty Stock Performance
NYSE:KIM opened at $17.58 on Tuesday. The firm has a market capitalization of $10.90 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.32 and a beta of 1.48. The business’s fifty day moving average price is $17.72 and its 200 day moving average price is $18.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.72 and a quick ratio of 2.72. Kimco Realty Corp has a 12 month low of $16.34 and a 12 month high of $23.27.
Kimco Realty Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th will be issued a dividend of $0.24 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, December 6th. This represents a $0.96 annualized dividend and a dividend yield of 5.46%. Kimco Realty’s dividend payout ratio (DPR) is presently 129.58%.
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.
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