Magnetar Financial LLC Buys Shares of 14,293 Kimco Realty Corporation $KIM

Key Points

• Magnetar Financial LLC has acquired 14,293 shares of Kimco Realty Corporation ($KIM), valued at approximately $304,000, marking a significant new investment in the real estate investment trust.
• A notable 89.25% of Kimco Realty's stock is currently owned by institutional investors and hedge funds, indicating strong institutional interest and confidence in the company.
• Kimco Realty announced a quarterly dividend of $0.25, which translates to an annualized dividend yield of 4.4%, highlighting its commitment to returning value to shareholders.

Magnetar Financial LLC acquired a new position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,293 shares of the real estate investment trust's stock, valued at approximately $304,000.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in Kimco Realty by 14.7% in the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock valued at $423,441,000 after buying an additional 2,552,276 shares during the period. Deutsche Bank AG grew its position in Kimco Realty by 94.7% in the fourth quarter. Deutsche Bank AG now owns 4,177,662 shares of the real estate investment trust's stock valued at $97,883,000 after purchasing an additional 2,031,722 shares in the last quarter. Resolution Capital Ltd increased its stake in shares of Kimco Realty by 13.7% during the 4th quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock worth $388,442,000 after purchasing an additional 1,992,550 shares during the last quarter. Kettle Hill Capital Management LLC boosted its holdings in shares of Kimco Realty by 180.9% during the 4th quarter. Kettle Hill Capital Management LLC now owns 1,409,811 shares of the real estate investment trust's stock worth $33,032,000 after buying an additional 907,929 shares during the period. Finally, Centersquare Investment Management LLC boosted its holdings in Kimco Realty by 8.9% in the 1st quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock valued at $191,170,000 after purchasing an additional 733,514 shares during the period. 89.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KIM. Piper Sandler dropped their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Barclays increased their price objective on shares of Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 27th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Mizuho increased their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.75.

Kimco Realty Trading Down 0.2%

NYSE:KIM traded down $0.04 during midday trading on Friday, reaching $22.76. 3,581,800 shares of the stock traded hands, compared to its average volume of 3,267,493. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The company has a fifty day moving average of $21.64 and a 200 day moving average of $21.13. The stock has a market capitalization of $15.41 billion, a P/E ratio of 27.42, a PEG ratio of 1.65 and a beta of 1.32. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. During the same period in the prior year, the firm earned $0.41 EPS. The company's revenue was up 5.0% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, research analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's dividend payout ratio (DPR) is 120.48%.

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.