Mutual of America Capital Management LLC lessened its stake in shares of Kimco Realty Corp (NYSE:KIM – Free Report) by 1.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,005 shares of the real estate investment trust’s stock after selling 1,164 shares during the period. Mutual of America Capital Management LLC’s holdings in Kimco Realty were worth $1,927,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in shares of Kimco Realty by 9.0% during the 3rd quarter. CIBC Asset Management Inc now owns 98,636 shares of the real estate investment trust’s stock valued at $2,290,000 after acquiring an additional 8,170 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in Kimco Realty by 4.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,969 shares of the real estate investment trust’s stock worth $557,000 after purchasing an additional 1,008 shares during the last quarter. Metis Global Partners LLC raised its stake in shares of Kimco Realty by 21.3% during the third quarter. Metis Global Partners LLC now owns 104,481 shares of the real estate investment trust’s stock worth $2,426,000 after acquiring an additional 18,317 shares in the last quarter. KBC Group NV grew its stake in shares of Kimco Realty by 408.7% during the third quarter. KBC Group NV now owns 669,923 shares of the real estate investment trust’s stock valued at $15,556,000 after buying an additional 538,232 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Kimco Realty during the third quarter valued at approximately $348,000. 89.25% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
KIM has been the topic of several research analyst reports. Robert W. Baird boosted their target price on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group increased their target price on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Evercore ISI upped their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and issued a $29.00 price objective (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Finally, Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Friday, August 16th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty presently has a consensus rating of “Moderate Buy” and an average price target of $24.14.
Kimco Realty Price Performance
Shares of NYSE:KIM opened at $25.37 on Monday. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 46.13, a price-to-earnings-growth ratio of 3.32 and a beta of 1.50. The business has a 50-day simple moving average of $23.93 and a two-hundred day simple moving average of $21.77. Kimco Realty Corp has a fifty-two week low of $17.57 and a fifty-two week high of $25.46. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59.
Kimco Realty (NYSE:KIM – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). The business had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. On average, analysts expect 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 will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.94%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is presently 174.55%.
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.
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