CIBC Asset Management Inc Purchases 4,637 Shares of Kimco Realty Corp (NYSE:KIM)

CIBC Asset Management Inc increased its position in Kimco Realty Corp (NYSE:KIM) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,273 shares of the real estate investment trust’s stock after acquiring an additional 4,637 shares during the period. CIBC Asset Management Inc’s holdings in Kimco Realty were worth $2,420,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new position in Kimco Realty in the third quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of Kimco Realty in the 3rd quarter worth approximately $31,000. Brooklyn Investment Group bought a new position in shares of Kimco Realty in the 3rd quarter worth approximately $37,000. Quarry LP purchased a new position in shares of Kimco Realty in the third quarter worth approximately $51,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Kimco Realty during the fourth quarter valued at approximately $77,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Down 0.5 %

Shares of KIM opened at $21.52 on Friday. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.83. The company has a 50 day simple moving average of $22.67 and a two-hundred day simple moving average of $23.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The firm has a market cap of $14.50 billion, a P/E ratio of 38.42, a price-to-earnings-growth ratio of 2.77 and a beta of 1.50.

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

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Friday, March 7th. Kimco Realty’s payout ratio is presently 178.57%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Scotiabank lifted their target price on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Mizuho boosted their price target on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. UBS Group raised their price objective on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. cut their price objective on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday. Ten investment 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.83.

Kimco Realty Company 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.