Versor Investments LP Increases Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Versor Investments LP lifted its position in Kimco Realty Corp (NYSE:KIM) by 15.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,167 shares of the real estate investment trust’s stock after purchasing an additional 8,301 shares during the quarter. Versor Investments LP’s holdings in Kimco Realty were worth $1,229,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Natixis Advisors LLC grew its holdings in shares of Kimco Realty by 35.6% in the second quarter. Natixis Advisors LLC now owns 419,370 shares of the real estate investment trust’s stock valued at $8,161,000 after purchasing an additional 110,062 shares during the period. Telos Capital Management Inc. grew its holdings in shares of Kimco Realty by 19.2% in the second quarter. Telos Capital Management Inc. now owns 33,832 shares of the real estate investment trust’s stock valued at $658,000 after purchasing an additional 5,458 shares during the period. Nilsine Partners LLC boosted its stake in Kimco Realty by 3.7% during the second quarter. Nilsine Partners LLC now owns 91,571 shares of the real estate investment trust’s stock worth $1,782,000 after buying an additional 3,281 shares during the period. Nicola Wealth Management LTD. boosted its stake in Kimco Realty by 105.6% during the second quarter. Nicola Wealth Management LTD. now owns 69,909 shares of the real estate investment trust’s stock worth $1,360,000 after buying an additional 35,909 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new position in Kimco Realty during the second quarter worth about $591,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Up 1.1 %

NYSE:KIM traded up $0.25 during mid-day trading on Monday, hitting $23.26. The stock had a trading volume of 2,880,600 shares, compared to its average volume of 4,725,122. The stock has a 50-day simple moving average of $21.19 and a two-hundred day simple moving average of $19.74. The company has a market capitalization of $15.68 billion, a PE ratio of 43.89, a PEG ratio of 3.96 and a beta of 1.51. Kimco Realty Corp has a twelve month low of $16.34 and a twelve month high of $23.53. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analyst estimates of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. On average, equities research analysts anticipate that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.13%. Kimco Realty’s payout ratio is currently 181.13%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Scotiabank increased their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Wells Fargo & Company increased their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Evercore ISI increased their price target on shares of Kimco Realty from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.21.

Insiders Place Their Bets

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the sale, the chief operating officer now owns 337,111 shares of the company’s stock, valued at $7,389,473.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate 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.