Raymond James Financial Inc. Makes New $2.48 Million Investment in Kimco Realty Corp (NYSE:KIM)

Raymond James Financial Inc. bought a new position in shares of Kimco Realty Corp (NYSE:KIM) in the 4th quarter, Holdings Channel reports. The institutional investor bought 105,751 shares of the real estate investment trust’s stock, valued at approximately $2,478,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in Kimco Realty in the 3rd quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new position in shares of Kimco Realty in the third quarter valued at approximately $37,000. Catalyst Capital Advisors LLC boosted its position in Kimco Realty by 102.9% during the 4th quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 1,104 shares during the period. Quarry LP acquired a new position in Kimco Realty in the 3rd quarter valued at approximately $51,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Kimco Realty during the 4th quarter worth about $77,000. Institutional investors own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KIM shares. Evercore ISI reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Wells Fargo & Company reduced their target price on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group cut shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their price target for the company from $28.00 to $25.00 in a research report on Thursday, January 2nd. Finally, Mizuho cut their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Ten research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.43.

Kimco Realty Price Performance

Kimco Realty stock opened at $20.94 on Friday. The business’s 50 day simple moving average is $21.76 and its 200 day simple moving average is $23.12. Kimco Realty Corp has a 12 month low of $17.57 and a 12 month high of $25.83. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.78 and a beta of 1.53. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Sell-side analysts forecast that Kimco Realty Corp will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.25 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.78%. Kimco Realty’s dividend payout ratio is 178.57%.

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.