Centiva Capital LP Takes Position in Kimco Realty Corp (NYSE:KIM)

Centiva Capital LP acquired a new position in shares of Kimco Realty Corp (NYSE:KIM) in the third quarter, HoldingsChannel reports. The firm acquired 36,713 shares of the real estate investment trust’s stock, valued at approximately $852,000.

Several other institutional investors have also recently added to or reduced their stakes in KIM. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Kimco Realty during the 3rd quarter worth about $216,000. Point72 Hong Kong Ltd purchased a new position in shares of Kimco Realty during the third quarter valued at approximately $1,857,000. Edgestream Partners L.P. boosted its position in Kimco Realty by 35.9% during the third quarter. Edgestream Partners L.P. now owns 127,495 shares of the real estate investment trust’s stock worth $2,960,000 after acquiring an additional 33,712 shares during the last quarter. Captrust Financial Advisors grew its stake in Kimco Realty by 3.4% in the 3rd quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock worth $340,000 after acquiring an additional 482 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Kimco Realty by 4.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 23,827 shares of the real estate investment trust’s stock valued at $552,000 after acquiring an additional 988 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Upgrades and Downgrades

KIM has been the topic of several analyst reports. Compass Point raised their price objective on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group lifted their price target on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a report on Friday, August 16th. Wells Fargo & Company boosted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. 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 company. According to data from MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Kimco Realty Price Performance

KIM stock opened at $25.12 on Friday. The stock has a 50-day simple moving average of $24.29 and a 200-day simple moving average of $22.15. The firm has a market cap of $16.93 billion, a P/E ratio of 45.66, a price-to-earnings-growth ratio of 3.30 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.83.

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

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.25 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio is presently 174.55%.

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.