Wealth Enhancement Advisory Services LLC Grows Position in Kimco Realty Corporation $KIM

Wealth Enhancement Advisory Services LLC grew its stake in Kimco Realty Corporation (NYSE:KIM) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,512 shares of the real estate investment trust’s stock after purchasing an additional 7,470 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Kimco Realty were worth $1,287,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Amundi raised its stake in shares of Kimco Realty by 54.2% during the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust’s stock worth $186,646,000 after buying an additional 3,253,031 shares during the period. Invesco Ltd. raised its stake in Kimco Realty by 14.7% in the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust’s stock valued at $423,441,000 after purchasing an additional 2,552,276 shares during the last quarter. Centersquare Investment Management LLC raised its stake in Kimco Realty by 8.9% in the 1st quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust’s stock valued at $191,170,000 after purchasing an additional 733,514 shares during the last quarter. SG Americas Securities LLC raised its stake in Kimco Realty by 3,689.2% in the 1st quarter. SG Americas Securities LLC now owns 709,410 shares of the real estate investment trust’s stock valued at $15,068,000 after purchasing an additional 690,688 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kimco Realty by 105.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,259,781 shares of the real estate investment trust’s stock valued at $26,758,000 after purchasing an additional 648,021 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on KIM shares. Mizuho increased their price objective on Kimco Realty from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Piper Sandler reduced their price objective on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. LADENBURG THALM/SH SH started coverage on Kimco Realty in a research note on Tuesday, September 9th. They issued a “buy” rating and a $27.00 price objective for the company. Barclays increased their price objective on Kimco Realty from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. Finally, Evercore ISI raised their target price on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.85.

Kimco Realty Stock Up 0.9%

KIM opened at $21.86 on Wednesday. The business’s fifty day moving average is $21.84 and its two-hundred day moving average is $21.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The company has a market cap of $14.80 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.57 and a beta of 1.32. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.Kimco Realty’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, September 5th. Kimco Realty’s payout ratio is 120.48%.

Insider Buying and Selling at Kimco Realty

In related news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the transaction, the director directly owned 40,260 shares in the company, valued at approximately $872,031.60. This represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

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.