Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Kimco Realty Corp (NYSE:KIM) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,786,626 shares of the real estate investment trust’s stock after acquiring an additional 25,317 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kimco Realty were worth $87,925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KIM. GSA Capital Partners LLP acquired a new stake in Kimco Realty in the 3rd quarter valued at $302,000. Apollon Wealth Management LLC grew its stake in shares of Kimco Realty by 18.5% in the third quarter. Apollon Wealth Management LLC now owns 14,887 shares of the real estate investment trust’s stock valued at $346,000 after buying an additional 2,325 shares in the last quarter. Catalytic Wealth RIA LLC purchased a new stake in shares of Kimco Realty during the 3rd quarter valued at about $294,000. AEGON ASSET MANAGEMENT UK Plc lifted its position in Kimco Realty by 0.9% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 846,112 shares of the real estate investment trust’s stock worth $19,647,000 after acquiring an additional 7,524 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its holdings in Kimco Realty by 8.4% in the 3rd quarter. Gulf International Bank UK Ltd now owns 47,170 shares of the real estate investment trust’s stock worth $1,095,000 after acquiring an additional 3,648 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Kimco Realty from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Mizuho lowered shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $20.00 to $23.00 in a report on Monday, August 19th. Piper Sandler restated an “overweight” rating and set a $29.00 target price (up from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. Truist Financial boosted their price target on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, UBS Group lifted their price objective on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.14.

Kimco Realty Stock Down 0.4 %

KIM stock opened at $24.72 on Friday. The firm has a fifty day moving average price of $23.70 and a two-hundred day moving average price of $21.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.19. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 44.95, a PEG ratio of 3.26 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. During the same period in the prior year, the company earned $0.40 EPS. Kimco Realty’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts predict that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.25 dividend. 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. This represents a $1.00 annualized dividend and a dividend yield of 4.05%. Kimco Realty’s dividend payout ratio (DPR) is 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.