Elo Mutual Pension Insurance Co Grows Position in Kimco Realty Corp (NYSE:KIM)

Elo Mutual Pension Insurance Co raised its holdings in Kimco Realty Corp (NYSE:KIM) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,838 shares of the real estate investment trust’s stock after purchasing an additional 5,247 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Kimco Realty were worth $1,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC increased its position in shares of Kimco Realty by 1.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock worth $816,000 after purchasing an additional 522 shares during the last quarter. Cascade Investment Advisors Inc. lifted its holdings in shares of Kimco Realty by 1.1% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 57,045 shares of the real estate investment trust’s stock worth $1,110,000 after acquiring an additional 640 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Kimco Realty by 5.0% in the second quarter. Checchi Capital Advisers LLC now owns 14,026 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 663 shares in the last quarter. Baker Ellis Asset Management LLC increased its stake in Kimco Realty by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock valued at $2,545,000 after acquiring an additional 680 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in Kimco Realty by 17.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 717 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Analysts Set New Price Targets

KIM has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Raymond James upgraded shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research report on Friday, August 16th. Truist Financial boosted their price objective 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. Evercore ISI upped their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.55.

Insider Buying and Selling

In other Kimco Realty news, COO David Jamieson sold 50,000 shares of the company’s 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 owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $23.24 on Friday. The stock has a market cap of $15.67 billion, a P/E ratio of 43.85, a price-to-earnings-growth ratio of 4.01 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 1.73. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $24.25. The firm has a 50-day moving average of $22.41 and a 200 day moving average of $20.14.

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 the consensus estimate of $0.40 by ($0.23). The company had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 EPS. As a group, sell-side analysts expect that Kimco Realty Corp will post 1.62 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is currently 181.13%.

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.