1832 Asset Management L.P. Buys 121,670 Shares of Kimco Realty Corporation $KIM

Key Points

• 1832 Asset Management L.P. increased its stake in Kimco Realty Corporation by 20.0%, acquiring an additional 121,670 shares to own a total of 730,593 shares worth approximately $15.5 million.
• Multiple institutional investors have also raised their positions in Kimco Realty, contributing to institutional ownership of 89.25% of the company's stock.
• Kimco Realty reported a quarterly earnings of $0.44 per share, surpassing analysts' expectations, and announced a quarterly dividend of $0.25, yielding about 4.5%.

1832 Asset Management L.P. grew its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 730,593 shares of the real estate investment trust's stock after purchasing an additional 121,670 shares during the quarter. 1832 Asset Management L.P. owned about 0.11% of Kimco Realty worth $15,518,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in KIM. GF Fund Management CO. LTD. increased its holdings in Kimco Realty by 4.2% during the first quarter. GF Fund Management CO. LTD. now owns 12,767 shares of the real estate investment trust's stock worth $271,000 after buying an additional 517 shares during the last quarter. Global Assets Advisory LLC grew its position in shares of Kimco Realty by 5.4% in the 4th quarter. Global Assets Advisory LLC now owns 10,363 shares of the real estate investment trust's stock valued at $238,000 after acquiring an additional 528 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Kimco Realty by 0.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 58,335 shares of the real estate investment trust's stock valued at $1,239,000 after acquiring an additional 530 shares during the period. Horizon Investments LLC increased its stake in shares of Kimco Realty by 6.4% during the 1st quarter. Horizon Investments LLC now owns 9,926 shares of the real estate investment trust's stock worth $211,000 after purchasing an additional 600 shares during the last quarter. Finally, Naviter Wealth LLC raised its holdings in shares of Kimco Realty by 1.4% in the 1st quarter. Naviter Wealth LLC now owns 46,155 shares of the real estate investment trust's stock valued at $966,000 after purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 89.25% of the company's stock.

Wall Street Analyst Weigh In

KIM has been the subject of a number of research analyst reports. Barclays initiated coverage on Kimco Realty in a report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price target for the company. Piper Sandler cut their price objective on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Mizuho lifted their target price on Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday. Raymond James Financial dropped their price target on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Monday, May 5th. Finally, Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Kimco Realty presently has a consensus rating of "Moderate Buy" and an average price target of $24.63.

Kimco Realty Trading Up 2.9%

Shares of NYSE:KIM opened at $22.1850 on Friday. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $25.83. The business has a 50 day moving average of $21.35 and a 200-day moving average of $21.10. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. The stock has a market cap of $15.02 billion, a PE ratio of 26.73, a P/E/G ratio of 1.61 and a beta of 1.31.

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

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's payout ratio is presently 120.48%.

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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