Canada Pension Plan Investment Board Purchases 1,193,600 Shares of Kimco Realty Corp (NYSE:KIM)

Canada Pension Plan Investment Board grew its position in Kimco Realty Corp (NYSE:KIM) by 11.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,394,650 shares of the real estate investment trust’s stock after buying an additional 1,193,600 shares during the period. Canada Pension Plan Investment Board’s holdings in Kimco Realty were worth $221,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in Kimco Realty during the fourth quarter valued at approximately $29,000. Blue Trust Inc. lifted its holdings in shares of Kimco Realty by 613.5% during the 2nd 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 boosted its position in shares of Kimco Realty by 52.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 773 shares in the last quarter. UMB Bank n.a. grew its stake in Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 1,787 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Kimco Realty during the 1st quarter valued at about $70,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Down 1.3 %

Shares of KIM opened at $23.24 on Friday. The stock’s 50-day moving average price is $22.35 and its 200-day moving average price is $20.11. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $15.67 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 4.01 and a beta of 1.51. Kimco Realty Corp has a 52 week low of $16.34 and a 52 week high of $24.25.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm had revenue of $500.20 million for the quarter, compared to analyst estimates of $500.87 million. During the same period in the previous year, the business earned $0.39 EPS. Kimco Realty’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Announces Dividend

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

Insiders Place Their Bets

In other news, COO David Jamieson sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was 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 directly owns 337,111 shares in the company, valued at approximately $7,389,473.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KIM. Argus upgraded Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Robert W. Baird boosted their target price on shares of Kimco Realty from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. 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 note on Friday, August 16th. 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. Finally, Scotiabank upped their target price on Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Ten research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus price target of $23.55.

Kimco Realty Company 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.