BNC Wealth Management LLC Invests $4.75 Million in Kimco Realty Corp (NYSE:KIM)

BNC Wealth Management LLC purchased a new position in shares of Kimco Realty Corp (NYSE:KIM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 202,572 shares of the real estate investment trust’s stock, valued at approximately $4,746,000. Kimco Realty makes up 1.6% of BNC Wealth Management LLC’s portfolio, making the stock its 22nd largest position.

Other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in Kimco Realty during the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in Kimco Realty during the third quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new position in Kimco Realty during the third quarter valued at approximately $37,000. Quarry LP acquired a new position in Kimco Realty during the third quarter valued at approximately $51,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings 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 valued at $77,000 after purchasing an additional 3,144 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KIM. Robert W. Baird lifted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Friday, December 20th. Mizuho boosted their price objective on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. UBS Group boosted their price objective on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Scotiabank upped their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.84.

Kimco Realty Trading Up 0.2 %

KIM stock opened at $22.35 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The company’s 50-day simple moving average is $24.02 and its 200 day simple moving average is $23.12. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a market capitalization of $15.06 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 2.73 and a beta of 1.51.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. During the same quarter last year, the company posted $0.40 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.48%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, December 5th. Kimco Realty’s dividend payout ratio is presently 181.82%.

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.