Point72 Asset Management L.P. Purchases New Stake in Kimco Realty Corp (NYSE:KIM)

Point72 Asset Management L.P. acquired a new position in shares of Kimco Realty Corp (NYSE:KIM) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 46,272 shares of the real estate investment trust’s stock, valued at approximately $1,074,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC raised its stake in Kimco Realty by 13.1% during the second quarter. CWM LLC now owns 12,728 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 1,473 shares in the last quarter. Czech National Bank raised its position in shares of Kimco Realty by 8.5% during the 2nd quarter. Czech National Bank now owns 127,174 shares of the real estate investment trust’s stock valued at $2,475,000 after acquiring an additional 9,965 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Kimco Realty by 10.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 119,144 shares of the real estate investment trust’s stock worth $2,319,000 after purchasing an additional 11,577 shares during the last quarter. Vanderbilt University boosted its holdings in Kimco Realty by 22.2% in the second quarter. Vanderbilt University now owns 73,706 shares of the real estate investment trust’s stock worth $1,434,000 after purchasing an additional 13,409 shares during the period. Finally, Murphy Pohlad Asset Management LLC increased its stake in Kimco Realty by 1.0% during the second quarter. Murphy Pohlad Asset Management LLC now owns 188,207 shares of the real estate investment trust’s stock valued at $3,663,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Down 1.2 %

NYSE:KIM opened at $24.75 on Wednesday. The stock has a fifty day simple moving average of $24.40 and a 200 day simple moving average of $22.32. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 45.00, a price-to-earnings-growth ratio of 3.30 and a beta of 1.50. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results 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). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The firm also recently disclosed 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. 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 4.04%. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty’s dividend payout ratio is currently 181.82%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KIM. UBS Group raised their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Friday, August 16th. Mizuho upped their price objective on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird raised their target price on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Compass Point upped their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” 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.