Solaris Asset Management LLC Has $273,000 Stake in Kimco Realty Corporation (NYSE:KIM)

Solaris Asset Management LLC lowered its position in Kimco Realty Corporation (NYSE:KIM) by 11.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,875 shares of the real estate investment trust’s stock after selling 2,017 shares during the period. Solaris Asset Management LLC’s holdings in Kimco Realty Corporation were worth $273,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Advisory Service Inc. boosted its stake in shares of Kimco Realty Corporation by 1.1% in the second quarter. Financial Advisory Service Inc. now owns 11,327 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 127 shares during the period. Retirement Systems of Alabama boosted its position in Kimco Realty Corporation by 0.3% in the second quarter. Retirement Systems of Alabama now owns 206,382 shares of the real estate investment trust’s stock worth $3,787,000 after buying an additional 638 shares during the last quarter. IFP Advisors Inc boosted its position in Kimco Realty Corporation by 5.5% in the second quarter. IFP Advisors Inc now owns 28,972 shares of the real estate investment trust’s stock worth $532,000 after buying an additional 1,517 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Kimco Realty Corporation by 423.6% in the second quarter. Daiwa Securities Group Inc. now owns 344,498 shares of the real estate investment trust’s stock valued at $6,322,000 after buying an additional 278,698 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Kimco Realty Corporation by 150.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,786,000 shares of the real estate investment trust’s stock valued at $32,773,000 after buying an additional 1,074,000 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Kimco Realty Corporation (NYSE:KIM) traded down 0.97% during midday trading on Friday, reaching $19.34. 3,378,100 shares of the company’s stock were exchanged. The stock has a market cap of $8.23 billion, a P/E ratio of 39.39 and a beta of 0.67. The firm’s 50-day moving average is $19.43 and its 200 day moving average is $20.76. Kimco Realty Corporation has a 1-year low of $17.02 and a 1-year high of $30.70.

Kimco Realty Corporation (NYSE:KIM) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The company had revenue of $292.84 million during the quarter, compared to analyst estimates of $290.95 million. Kimco Realty Corporation had a net margin of 21.77% and a return on equity of 4.68%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Equities analysts anticipate that Kimco Realty Corporation will post $0.73 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Tuesday, October 3rd. Kimco Realty Corporation’s dividend payout ratio (DPR) is presently 220.41%.

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Several research firms recently weighed in on KIM. Zacks Investment Research upgraded shares of Kimco Realty Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Kimco Realty Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Citigroup Inc. restated a “neutral” rating and set a $19.50 target price (down from $21.00) on shares of Kimco Realty Corporation in a report on Monday, July 10th. TheStreet cut shares of Kimco Realty Corporation from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Finally, Boenning Scattergood restated a “hold” rating on shares of Kimco Realty Corporation in a report on Friday. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Kimco Realty Corporation currently has a consensus rating of “Buy” and an average price target of $27.21.

In related news, Director Philip E. Coviello, Jr. purchased 20,000 shares of Kimco Realty Corporation stock in a transaction dated Monday, June 5th. The stock was bought at an average price of $17.37 per share, for a total transaction of $347,400.00. Following the completion of the acquisition, the director now directly owns 41,045 shares of the company’s stock, valued at $712,951.65. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Kimco Realty Corporation (NYSE:KIM)

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