Summit Securities Group LLC Buys Shares of 1,100 Kimco Realty Corp (NYSE:KIM)

Summit Securities Group LLC purchased a new position in Kimco Realty Corp (NYSE:KIM) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,100 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds have also made changes to their positions in KIM. Wilmington Savings Fund Society FSB bought a new position in Kimco Realty during the 3rd quarter valued at $31,000. Brown Brothers Harriman & Co. boosted its stake 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 buying an additional 575 shares in the last quarter. Quarry LP acquired a new position in Kimco Realty during the third quarter worth about $51,000. Catalyst Capital Advisors LLC raised its position in Kimco Realty by 102.9% in the fourth quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,104 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in Kimco Realty in the 4th quarter valued at about $76,000. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $20.94 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.83. The business’s 50-day moving average price is $21.76 and its two-hundred day moving average price is $23.12. The company has a market capitalization of $14.23 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 2.78 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Analysts anticipate that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal 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. This represents a $1.00 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, March 7th. Kimco Realty’s payout ratio is presently 178.57%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Evercore ISI decreased their price target on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Scotiabank cut their price objective on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Mizuho decreased their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Citigroup lowered their price objective on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus price target of $24.43.

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.