Brooklyn Investment Group Buys Shares of 1,576 Kimco Realty Corp (NYSE:KIM)

Brooklyn Investment Group bought a new stake in Kimco Realty Corp (NYSE:KIM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,576 shares of the real estate investment trust’s stock, valued at approximately $37,000.

Several other hedge funds have also recently added to or reduced their stakes in KIM. Tidal Investments LLC raised its position in shares of Kimco Realty by 18.1% during the first quarter. Tidal Investments LLC now owns 21,304 shares of the real estate investment trust’s stock worth $418,000 after purchasing an additional 3,269 shares during the period. Virtu Financial LLC acquired a new stake in shares of Kimco Realty during the first quarter worth about $265,000. Swedbank AB acquired a new stake in shares of Kimco Realty during the first quarter worth about $11,174,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Kimco Realty by 4.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 55,398 shares of the real estate investment trust’s stock worth $1,086,000 after purchasing an additional 2,133 shares during the period. Finally, Boston Partners acquired a new stake in shares of Kimco Realty during the first quarter worth about $10,668,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

KIM has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Friday, August 16th. Scotiabank lifted their target price on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Evercore ISI lifted their target price on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Argus raised Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $25.58 on Friday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 12 month low of $17.57 and a 12 month high of $25.83. The stock has a 50 day moving average of $24.14 and a 200-day moving average of $21.98. The company has a market capitalization of $17.24 billion, a P/E ratio of 46.51, a P/E/G ratio of 3.37 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The business had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.91%. Kimco Realty’s payout ratio is 181.82%.

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.