Kimco Realty Corporation (KIM) Stake Lowered by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD cut its stake in Kimco Realty Corporation (NYSE:KIM) by 15.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 651,744 shares of the real estate investment trust’s stock after selling 114,574 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD owned 0.15% of Kimco Realty Corporation worth $12,741,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in KIM. Penserra Capital Management LLC bought a new stake in shares of Kimco Realty Corporation in the 3rd quarter valued at about $105,000. Pacer Advisors Inc. increased its stake in shares of Kimco Realty Corporation by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 790 shares during the last quarter. Eqis Capital Management Inc. bought a new stake in shares of Kimco Realty Corporation in the 3rd quarter valued at about $201,000. Carnegie Capital Asset Management LLC bought a new stake in shares of Kimco Realty Corporation in the 2nd quarter valued at about $204,000. Finally, Creative Planning increased its stake in shares of Kimco Realty Corporation by 31.8% in the 2nd quarter. Creative Planning now owns 11,257 shares of the real estate investment trust’s stock valued at $207,000 after acquiring an additional 2,715 shares during the last quarter. 89.40% of the stock is owned by institutional investors.
Kimco Realty Corporation (KIM) traded down 2.794% during trading on Tuesday, reaching $17.915. The company’s stock had a trading volume of 1,276,043 shares. The stock has a market cap of $7.63 billion, a PE ratio of 36.487 and a beta of 0.67. Kimco Realty Corporation has a 12 month low of $17.02 and a 12 month high of $26.63. The company’s 50-day moving average is $19.35 and its 200-day moving average is $19.37.
Kimco Realty Corporation (NYSE:KIM) last announced its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.13). Kimco Realty Corporation had a return on equity of 7.73% and a net margin of 35.51%. The company had revenue of $290.92 million for the quarter, compared to the consensus estimate of $295.34 million. During the same quarter last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Kimco Realty Corporation will post $0.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 29th. This represents a $1.12 annualized dividend and a yield of 6.08%. This is an increase from Kimco Realty Corporation’s previous quarterly dividend of $0.27. Kimco Realty Corporation’s dividend payout ratio is 125.58%.
KIM has been the subject of a number of recent analyst reports. Zacks Investment Research cut Kimco Realty Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $19.50 price target (down from $21.00) on shares of Kimco Realty Corporation in a research note on Monday, July 10th. Barclays PLC reissued an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Kimco Realty Corporation in a research note on Monday, July 10th. Boenning Scattergood reissued a “hold” rating on shares of Kimco Realty Corporation in a research note on Friday, July 28th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $25.00 target price on shares of Kimco Realty Corporation in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $24.43.
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Kimco Realty Corporation Company Profile
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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