AQR Capital Management LLC Boosts Holdings in Kimco Realty Corp (NYSE:KIM)

AQR Capital Management LLC raised its stake in shares of Kimco Realty Corp (NYSE:KIM) by 1,006.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,170 shares of the real estate investment trust’s stock after buying an additional 541,391 shares during the quarter. AQR Capital Management LLC’s holdings in Kimco Realty were worth $11,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KIM. ProShare Advisors LLC grew its stake in Kimco Realty by 71.0% during the first quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust’s stock valued at $3,531,000 after acquiring an additional 74,729 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after purchasing an additional 7,931,013 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of Kimco Realty by 232.9% in the first quarter. Forsta AP Fonden now owns 435,800 shares of the real estate investment trust’s stock worth $8,546,000 after purchasing an additional 304,900 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Kimco Realty by 63.5% in the first quarter. BNP Paribas Financial Markets now owns 1,031,957 shares of the real estate investment trust’s stock worth $20,237,000 after buying an additional 400,825 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kimco Realty by 2.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock valued at $73,195,000 after buying an additional 103,861 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

KIM has been the topic of a number of research reports. Truist Financial lifted their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Mizuho cut shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Scotiabank increased their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI boosted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Compass Point increased their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.55.

Kimco Realty Stock Down 0.6 %

Shares of KIM opened at $23.09 on Wednesday. The firm has a fifty day moving average price of $22.64 and a 200-day moving average price of $20.31. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $15.57 billion, a P/E ratio of 43.57, a P/E/G ratio of 4.03 and a beta of 1.51. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $24.25.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. Kimco Realty’s revenue was up 13.0% on a year-over-year basis. Equities research analysts expect that Kimco Realty Corp will post 1.62 earnings per share for the current year.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Thursday, September 5th. Kimco Realty’s payout ratio is 181.13%.

Insider Activity

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the transaction, the chief operating officer now directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

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.