D.A. Davidson & CO. Makes New $209,000 Investment in Kimco Realty Corporation (NYSE:KIM)

D.A. Davidson & CO. purchased a new position in Kimco Realty Corporation (NYSE:KIM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,828 shares of the real estate investment trust’s stock, valued at approximately $209,000.

Several other institutional investors have also added to or reduced their stakes in KIM. FMR LLC lifted its holdings in shares of Kimco Realty by 7.9% during the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust’s stock worth $564,560,000 after purchasing an additional 1,755,684 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Kimco Realty by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust’s stock worth $411,179,000 after purchasing an additional 377,074 shares during the period. Invesco Ltd. lifted its holdings in shares of Kimco Realty by 18.3% during the fourth quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust’s stock worth $407,301,000 after purchasing an additional 2,692,258 shares during the period. Resolution Capital Ltd lifted its holdings in shares of Kimco Realty by 13.7% during the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust’s stock worth $388,442,000 after purchasing an additional 1,992,550 shares during the period. Finally, Norges Bank acquired a new position in Kimco Realty in the fourth quarter valued at approximately $363,436,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Performance

NYSE KIM opened at $21.48 on Friday. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The stock’s fifty day moving average is $21.07 and its two-hundred day moving average is $21.33. The firm has a market capitalization of $14.53 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24. 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 (NYSE:KIM) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. The business had revenue of $536.62 million for the quarter, compared to analyst estimates of $520.68 million. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was up 965.3% on a year-over-year basis. On average, research analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Friday, June 6th. Kimco Realty’s dividend payout ratio (DPR) is presently 129.87%.

Wall Street Analyst Weigh In

KIM has been the subject of a number of recent analyst reports. Wall Street Zen cut Kimco Realty from a “hold” rating to a “sell” rating in a research report on Saturday, July 5th. Scotiabank dropped their price target on Kimco Realty from $24.00 to $23.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Barclays started coverage on Kimco Realty in a research report on Wednesday, July 2nd. They set an “overweight” rating and a $25.00 price target for the company. Wells Fargo & Company dropped their price target on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Finally, Piper Sandler dropped their price target on Kimco Realty from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.70.

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.