Kimco Realty Corp (NYSE:KIM) Shares Purchased by KBC Group NV

KBC Group NV lifted its stake in Kimco Realty Corp (NYSE:KIM) by 408.7% in the third quarter, HoldingsChannel reports. The fund owned 669,923 shares of the real estate investment trust’s stock after purchasing an additional 538,232 shares during the quarter. KBC Group NV’s holdings in Kimco Realty were worth $15,556,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KIM. Catalyst Capital Advisors LLC acquired a new stake in Kimco Realty in the third quarter worth approximately $25,000. Blue Trust Inc. boosted its stake in Kimco Realty by 613.5% during the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Kimco Realty by 52.6% during the first 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. raised its position in 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 worth $66,000 after acquiring an additional 1,787 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Kimco Realty by 378.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 3,144 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KIM shares. Compass Point lifted their price objective on shares of Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Raymond James raised Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Friday, August 16th. Robert W. Baird raised their price objective on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday. Scotiabank boosted their target price on Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.14.

Kimco Realty Price Performance

KIM opened at $24.89 on Friday. The stock has a fifty day moving average price of $23.73 and a 200 day moving average price of $21.49. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.19. The stock has a market cap of $16.78 billion, a price-to-earnings ratio of 45.25, a PEG ratio of 3.28 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (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 firm had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Analysts forecast that Kimco Realty Corp will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.02%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty’s payout ratio is currently 174.55%.

Kimco Realty 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.