Atomi Financial Group Inc. Acquires New Stake in Kimco Realty Corp (NYSE:KIM)

Atomi Financial Group Inc. bought a new position in shares of Kimco Realty Corp (NYSE:KIM) in the third quarter, Holdings Channel.com reports. The fund bought 14,118 shares of the real estate investment trust’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KIM. Blue Trust Inc. increased its holdings in shares of Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,816 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Kimco Realty by 52.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 773 shares during the period. UMB Bank n.a. grew its holdings in shares of Kimco Realty by 112.6% in the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,787 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Kimco Realty during the first quarter worth about $70,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Kimco Realty by 378.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 3,144 shares during the period. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Argus upgraded Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Mizuho lowered shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $23.00 in a report on Monday, August 19th. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Friday, August 16th. Finally, Wells Fargo & Company increased their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.55.

Kimco Realty Price Performance

Shares of KIM opened at $23.18 on Friday. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 3.95 and a beta of 1.50. The firm’s fifty day simple moving average is $22.92 and its 200-day simple moving average is $20.54. Kimco Realty Corp has a twelve month low of $16.34 and a twelve month high of $24.25. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.72.

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

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Thursday, September 5th. Kimco Realty’s payout ratio is 181.13%.

Insider Activity at Kimco Realty

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 337,111 shares of the company’s stock, valued at approximately $7,389,473.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by corporate insiders.

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.