BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 48,630 Shares of Kimco Realty Corp (NYSE:KIM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Kimco Realty Corp (NYSE:KIM) by 60.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,109 shares of the real estate investment trust’s stock after acquiring an additional 48,630 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Kimco Realty were worth $2,512,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Bank of Montreal Can raised its position in shares of Kimco Realty by 1.5% during the second quarter. Bank of Montreal Can now owns 697,993 shares of the real estate investment trust’s stock valued at $13,618,000 after buying an additional 10,506 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Kimco Realty by 18.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 92,559 shares of the real estate investment trust’s stock valued at $1,801,000 after acquiring an additional 14,589 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Kimco Realty by 0.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 252,969 shares of the real estate investment trust’s stock worth $4,923,000 after acquiring an additional 1,629 shares during the period. Sei Investments Co. grew its holdings in shares of Kimco Realty by 71.5% during the 2nd quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock worth $54,345,000 after purchasing an additional 1,164,029 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Kimco Realty by 4.9% during the second quarter. Pacer Advisors Inc. now owns 44,384 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 2,089 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of Kimco Realty stock in a transaction on 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 directly owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

Kimco Realty Price Performance

Shares of KIM stock opened at $22.96 on Friday. Kimco Realty Corp has a 52 week low of $16.34 and a 52 week high of $24.25. The stock has a market capitalization of $15.48 billion, a PE ratio of 43.32, a PEG ratio of 4.03 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73. The stock’s fifty day moving average is $22.61 and its 200-day moving average is $20.27.

Kimco Realty (NYSE:KIM) last issued 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). 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 for the quarter, compared to analyst estimates of $500.87 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts expect that Kimco Realty Corp will post 1.62 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is presently 181.13%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KIM. Robert W. Baird lifted their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Wells Fargo & Company lifted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Mizuho cut shares of Kimco Realty from an “outperform” rating to a “neutral” rating and upped their target price for the company from $20.00 to $23.00 in a research note on Monday, August 19th. The Goldman Sachs Group lifted their price objective on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Argus raised Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.55.

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.