37,945 Shares in Kimco Realty Corporation $KIM Bought by Cerro Pacific Wealth Advisors LLC

Key Points

• Cerro Pacific Wealth Advisors LLC has acquired 37,945 shares of Kimco Realty Corporation, valued at approximately $798,000.
• Kimco Realty reported earnings of $0.44 EPS for the last quarter, beating analyst expectations, and has set its FY 2025 guidance between 1.730-1.750 EPS.
• The company announced a quarterly dividend of $0.25 per share, which equates to an annualized dividend of $1.00 and a yield of 4.8%.

Cerro Pacific Wealth Advisors LLC bought a new position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,945 shares of the real estate investment trust's stock, valued at approximately $798,000.

A number of other institutional investors and hedge funds have also bought and sold shares of KIM. Handelsbanken Fonder AB increased its position in Kimco Realty by 20.0% during the first quarter. Handelsbanken Fonder AB now owns 193,542 shares of the real estate investment trust's stock worth $4,111,000 after acquiring an additional 32,300 shares during the period. Ritholtz Wealth Management acquired a new stake in Kimco Realty during the first quarter worth $263,000. Exchange Traded Concepts LLC boosted its stake in Kimco Realty by 5.4% during the first quarter. Exchange Traded Concepts LLC now owns 59,548 shares of the real estate investment trust's stock worth $1,265,000 after buying an additional 3,051 shares in the last quarter. Great Lakes Retirement Inc. acquired a new stake in Kimco Realty during the first quarter worth $1,251,000. Finally, Inscription Capital LLC acquired a new stake in Kimco Realty during the first quarter worth $392,000. Institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Down 2.1%

Shares of NYSE:KIM opened at $20.78 on Friday. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83. 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's fifty day moving average is $21.78 and its 200-day moving average is $21.22. The company has a market capitalization of $14.07 billion, a PE ratio of 25.04, a P/E/G ratio of 1.51 and a beta of 1.30.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The company had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm's revenue for the quarter 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. Equities research analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, September 5th. Kimco Realty's payout ratio is currently 120.48%.

Insider Activity

In related news, Director Mary Hogan Preusse sold 23,100 shares of Kimco Realty stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the transaction, the director directly owned 40,260 shares of the company's stock, valued at $872,031.60. The trade was a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KIM shares. Evercore ISI lifted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research note on Monday, September 8th. Barclays lifted their price target on shares of Kimco Realty from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, October 6th. Mizuho lifted their price target 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. LADENBURG THALM/SH SH assumed coverage on shares of Kimco Realty in a research note on Tuesday, September 9th. They set a "buy" rating and a $27.00 price target on the stock. Finally, Piper Sandler reduced their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Kimco Realty presently has a consensus rating of "Moderate Buy" and an average price target of $24.92.

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.

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