Ritholtz Wealth Management Invests $263,000 in Kimco Realty Corporation (NYSE:KIM)

Ritholtz Wealth Management bought a new position in Kimco Realty Corporation (NYSE:KIM) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,383 shares of the real estate investment trust’s stock, valued at approximately $263,000.

A number of other hedge funds also recently bought and sold shares of KIM. Summit Securities Group LLC purchased a new position in Kimco Realty during the fourth quarter worth approximately $26,000. Brown Brothers Harriman & Co. raised its stake in shares of Kimco Realty by 78.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 575 shares during the period. Headlands Technologies LLC purchased a new stake in Kimco Realty during the 4th quarter worth approximately $45,000. Sentry Investment Management LLC purchased a new stake in Kimco Realty during the 1st quarter worth approximately $45,000. Finally, CoreFirst Bank & Trust purchased a new stake in Kimco Realty during the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Down 0.6%

Shares of Kimco Realty stock opened at $20.88 on Friday. The company has a market cap of $14.12 billion, a P/E ratio of 27.11, a PEG ratio of 1.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.47 and a current ratio of 3.47. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83. The firm has a fifty day moving average of $20.81 and a two-hundred day moving average of $21.69.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $536.62 million during the quarter, compared to the consensus estimate of $520.68 million. Kimco Realty had a net margin of 26.79% and a return on equity of 5.17%. Kimco Realty’s quarterly revenue was up 965.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.79%. Kimco Realty’s dividend payout ratio is presently 129.87%.

Analyst Upgrades and Downgrades

KIM has been the topic of several recent research reports. Raymond James Financial cut their target price on shares of Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Monday, May 5th. Piper Sandler lowered their price target on shares of Kimco Realty from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Wells Fargo & Company lowered their price target on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Scotiabank lowered their price target on shares of Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Finally, Mizuho lowered their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Ten research analysts have rated the stock with a hold rating, four have issued 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 an average price target of $24.68.

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.