Norges Bank Makes New Investment in Kimco Realty Corp (NYSE:KIM)

Norges Bank bought a new stake in Kimco Realty Corp (NYSE:KIM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,511,565 shares of the real estate investment trust’s stock, valued at approximately $363,436,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quest Partners LLC grew its holdings in Kimco Realty by 415,100.0% in the 3rd quarter. Quest Partners LLC now owns 4,152 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 4,151 shares in the last quarter. FMR LLC boosted its position in Kimco Realty by 6.1% during the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after acquiring an additional 1,283,352 shares during the period. Brooklyn Investment Group bought a new position in shares of Kimco Realty in the third quarter worth $37,000. BNP Paribas Financial Markets increased its holdings in shares of Kimco Realty by 44.0% during the third quarter. BNP Paribas Financial Markets now owns 771,268 shares of the real estate investment trust’s stock valued at $17,909,000 after purchasing an additional 235,623 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of Kimco Realty by 22.1% during the third quarter. Townsquare Capital LLC now owns 13,082 shares of the real estate investment trust’s stock valued at $304,000 after purchasing an additional 2,370 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on KIM shares. Evercore ISI decreased their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Citigroup lowered their price objective on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company cut their target price on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Scotiabank cut their price objective on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and a consensus target price of $24.43.

Kimco Realty Trading Down 0.4 %

Kimco Realty stock opened at $20.94 on Friday. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 2.78 and a beta of 1.53. The company has a 50 day moving average price of $21.76 and a 200 day moving average price of $23.12.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Research analysts forecast that Kimco Realty Corp will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 178.57%.

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.