State Street Corp Purchases 882,047 Shares of Kimco Realty Corp (NYSE:KIM)

State Street Corp lifted its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,167,816 shares of the real estate investment trust’s stock after acquiring an additional 882,047 shares during the period. State Street Corp owned approximately 6.70% of Kimco Realty worth $1,048,797,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC bought a new position in Kimco Realty during the third quarter valued at about $25,000. Brooklyn Investment Group purchased a new stake in Kimco Realty in the 3rd quarter worth approximately $37,000. Blue Trust Inc. boosted its position 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 acquiring an additional 1,816 shares during the last quarter. Quarry LP bought a new position in shares of Kimco Realty in the 3rd quarter worth $51,000. Finally, Castleview Partners LLC purchased a new position in shares of Kimco Realty during the third quarter worth approximately $77,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

KIM stock opened at $25.19 on Friday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $16.98 billion, a P/E ratio of 45.80, a PEG ratio of 3.31 and a beta of 1.50. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.83. The business has a 50 day simple moving average of $24.33 and a 200-day simple moving average of $22.21.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The business had revenue of $507.63 million during the quarter, compared to analysts’ expectations of $502.78 million. During the same quarter in the previous year, the company posted $0.40 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s payout ratio is currently 174.55%.

Analysts Set New Price Targets

KIM has been the topic of a number of analyst reports. Truist Financial boosted their price objective on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. UBS Group lifted their price target on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Evercore ISI upped their price target on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Scotiabank increased their target price on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a report on Monday, November 25th. Finally, Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Friday, August 16th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.50.

Kimco Realty 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.