Bank of America Corp DE Acquires New Holdings in Kimco Realty Corporation $KIM

Key Points

• Bank of America acquired 9.27 million Kimco Realty shares during the second quarter, valued at approximately $235.1 million and representing about 1.38% of the REIT. Institutional investors collectively own 89.25% of Kimco’s outstanding shares.
• Analysts maintain a generally positive outlook, with Kimco carrying a consensus “Moderate Buy” rating and an average price target of $26.53. Recent targets range from $26 to $31 per share.
• Kimco exceeded quarterly earnings expectations, reporting $0.46 EPS versus the $0.20 consensus and $550.8 million in revenue. The company also raised its quarterly dividend to $0.28, equivalent to a 5.0% annualized yield.

Bank of America Corp DE bought a new position in Kimco Realty Corporation (NYSE:KIM - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 9,274,605 shares of the real estate investment trust's stock, valued at approximately $235,111,000. Bank of America Corp DE owned approximately 1.38% of Kimco Realty at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KIM. Root Financial Partners LLC increased its holdings in shares of Kimco Realty by 60.7% in the first quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 546 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Kimco Realty by 13.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,059 shares of the real estate investment trust's stock valued at $114,000 after acquiring an additional 610 shares during the last quarter. Values First Advisors Inc. grew its holdings in shares of Kimco Realty by 2.3% during the first quarter. Values First Advisors Inc. now owns 30,491 shares of the real estate investment trust's stock worth $685,000 after purchasing an additional 683 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Kimco Realty by 16.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,407 shares of the real estate investment trust's stock worth $110,000 after purchasing an additional 765 shares in the last quarter. Finally, Praxis Investment Management Inc. increased its position in shares of Kimco Realty by 4.1% in the first quarter. Praxis Investment Management Inc. now owns 19,961 shares of the real estate investment trust's stock worth $449,000 after purchasing an additional 791 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of Kimco Realty from a "peer perform" rating to an "outperform" rating and set a $28.00 target price on the stock in a research note on Monday, June 22nd. Stifel Nicolaus set a $28.00 price target on shares of Kimco Realty in a research note on Thursday, June 11th. Piper Sandler increased their price target on shares of Kimco Realty from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Wells Fargo & Company raised their price objective on shares of Kimco Realty from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kimco Realty in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Kimco Realty presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.53.

Kimco Realty Stock Performance

Shares of KIM stock opened at $22.58 on Thursday. The company has a market capitalization of $15.15 billion, a P/E ratio of 26.56, a PEG ratio of 2.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a 50 day moving average price of $24.58 and a two-hundred day moving average price of $24.09. Kimco Realty Corporation has a fifty-two week low of $19.76 and a fifty-two week high of $26.65.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.26. The business had revenue of $550.80 million for the quarter, compared to analyst estimates of $543.75 million. Kimco Realty had a net margin of 27.76% and a return on equity of 5.76%. The company's revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Kimco Realty has set its FY 2026 guidance at 1.830-1.840 EPS. Analysts expect that Kimco Realty Corporation will post 1.84 earnings per share for the current year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Friday, September 4th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.12 annualized dividend and a dividend yield of 5.0%. This is a positive change from Kimco Realty's previous quarterly dividend of $0.26. Kimco Realty's dividend payout ratio is 131.76%.

Kimco Realty Company Profile

Kimco Realty Corporation NYSE: KIM is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties. Its properties are generally located in established communities and are designed to serve everyday consumer needs, with tenants that may include grocery stores, restaurants, retailers, service providers and other businesses.

The company's portfolio is concentrated in major metropolitan areas across the United States, including markets in coastal and Sun Belt regions.

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