Millennium Management LLC Buys 250,718 Shares of Kimco Realty Corp (NYSE:KIM)

Millennium Management LLC increased its holdings in Kimco Realty Corp (NYSE:KIM) by 33.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 989,701 shares of the real estate investment trust’s stock after acquiring an additional 250,718 shares during the period. Millennium Management LLC owned about 0.15% of Kimco Realty worth $23,189,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Keybank National Association OH grew its holdings in Kimco Realty by 4.0% during the fourth quarter. Keybank National Association OH now owns 13,033 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 496 shares during the period. Global Assets Advisory LLC grew its holdings in Kimco Realty by 5.4% during the fourth quarter. Global Assets Advisory LLC now owns 10,363 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 528 shares during the period. Avantax Advisory Services Inc. grew its holdings in Kimco Realty by 4.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,839 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 539 shares during the period. Pitcairn Co. grew its holdings in Kimco Realty by 4.0% during the fourth quarter. Pitcairn Co. now owns 14,568 shares of the real estate investment trust’s stock valued at $341,000 after purchasing an additional 567 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in Kimco Realty by 78.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 575 shares during the period. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Down 1.7%

Shares of NYSE:KIM opened at $21.30 on Wednesday. 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 Corp has a 12 month low of $17.93 and a 12 month high of $25.83. The company has a 50-day moving average price of $20.61 and a 200 day moving average price of $22.30. The company has a market cap of $14.41 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 2.78 and a beta of 1.26.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The firm had revenue of $536.62 million during the quarter, compared to the consensus estimate of $520.68 million. During the same quarter last year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up 965.3% compared to the same quarter last year. As a group, equities research analysts predict that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Friday, June 6th. Kimco Realty’s payout ratio is currently 129.87%.

Analyst Ratings Changes

Several equities research analysts have issued reports on KIM shares. Piper Sandler dropped their target price on Kimco Realty from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Raymond James reduced their price objective on Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company cut their target price on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Citigroup cut their price objective on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. cut their price objective on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.68.

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.