Stock Rating Runner: Kimco Realty (KIM) Loses a Vote of Confidence From Goldman Sachs. What to Expect?

November 29, 2016 - By olga

Stock Rating Runner: Kimco Realty (KIM) Loses a Vote of Confidence From Goldman Sachs. What to Expect?

Kimco Realty (KIM) Downgrade

In a analysts note sent to clients and investors on Tuesday, 29 November, Goldman Sachs lowered shares of Kimco Realty (KIM) to a “Sell” rating from a “Neutral” rating.

About 2.43M shares traded hands. Kimco Realty Corp (KIM) has declined 8.12% since April 26, 2016 and is downtrending. It has underperformed by 13.38% the S&P500.

Analysts await Kimco Realty Corp (NYSE:KIM) to report earnings on February, 2 after the close. They expect $0.41 earnings per share, up 10.81% or $0.04 from last year’s $0.37 per share. KIM’s profit will be $173.59 million for 15.96 P/E if the $0.41 EPS becomes a reality. After $0.38 actual earnings per share reported by Kimco Realty Corp for the previous quarter, Wall Street now forecasts 7.89% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.07 in Q2 2016. Its down 0.08, from 1.15 in 2016Q1. The ratio worsened, as 34 funds sold all Kimco Realty Corp shares owned while 117 reduced positions. 28 funds bought stakes while 146 increased positions. They now own 390.69 million shares or 2.17% more from 382.41 million shares in 2016Q1.

Putnam Investments Limited Liability Co, a Massachusetts-based fund reported 222,786 shares. Babson Capital Mgmt Ltd Liability Corp has invested 0.08% of its portfolio in Kimco Realty Corp (NYSE:KIM). Chesapeake Asset Mgmt has 40,320 shares for 1.03% of their US portfolio. Moreover, Sei has 0.09% invested in Kimco Realty Corp (NYSE:KIM) for 488,832 shares. Winslow Evans Crocker holds 4,298 shares or 0% of its portfolio. Cornerstone Real Estate Advisers Ltd Llc last reported 157,104 shares in the company. Oakbrook Invests Limited, a Illinois-based fund reported 23,521 shares. Amica Pension Fund Board Of Trustees owns 12,584 shares or 0.05% of their US portfolio. Arizona State Retirement, a Arizona-based fund reported 102,986 shares. Kemper Master Retirement has 14,075 shares for 0.28% of their US portfolio. Raymond James Na has 9,920 shares for 0.03% of their US portfolio. The Florida-based Raymond James And has invested 0.03% in Kimco Realty Corp (NYSE:KIM). Registered Advisor accumulated 0.28% or 19,000 shares. Sumitomo Mitsui Asset Mngmt last reported 0.93% of its portfolio in the stock. Winton holds 0.26% of its portfolio in Kimco Realty Corp (NYSE:KIM) for 503,508 shares.

Insider Transactions: Since August 8, 2016, the stock had 1 insider buy, and 0 insider sales for $31,167 net activity. On Monday, August 8 the insider COVIELLO PHILIP E JR bought $31,167.

Kimco Realty Corporation is a real estate investment trust. The company has a market cap of $11.08 billion. The Firm is engaged principally in the ownership, management, development and operation of open-air shopping centers. It has a 21.39 P/E ratio. The Firm holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area , located in approximately 40 states of the United States, Puerto Rico and Canada.

According to Zacks Investment Research, “Kimco Realty Corp. together with its subsidiaries, is a self-administered real estate investment trust and is one of the nation’s largest owners and operators of neighborhood and community shopping centers. The company’s portfolio of property interests includes neighborhood and community shopping center properties, regional malls, retail store leases, parcels of undeveloped land, and projects under development.”

KIM Company Profile

Kimco Realty Corporation, incorporated on March 25, 1994, is a real estate investment trust. The Firm is engaged principally in the ownership, management, development and operation of open-air shopping centers. The Firm holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area (GLA), located in approximately 40 states of the United States, Puerto Rico and Canada.

Another recent and important Kimco Realty Corp (NYSE:KIM) news was published by Forbes.com which published an article titled: “Short Interest In Kimco Realty Drops 10.3%” on November 28, 2016.

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