BlackRock Inc. Invests $1.90 Billion in Kimco Realty Corporation $KIM

Key Points

• BlackRock acquired 74.8 million Kimco Realty shares worth approximately $1.90 billion, giving it an 11.09% stake. Institutional investors and hedge funds collectively own 89.25% of the REIT.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $26.50, compared with Kimco’s reported share price of $24.32.
• Kimco exceeded quarterly earnings expectations, reporting $0.46 EPS versus a $0.20 estimate, and raised its quarterly dividend to $0.28 per share, representing a 4.6% annualized yield.

BlackRock Inc. acquired a new stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 74,783,636 shares of the real estate investment trust's stock, valued at approximately $1,895,765,000. BlackRock Inc. owned about 11.09% of Kimco Realty at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Zions Bancorporation National Association UT grew its stake in Kimco Realty by 270.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 1,049 shares during the last quarter. Root Financial Partners LLC raised its stake 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 last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Kimco Realty during the second quarter worth about $37,000. MUFG Securities EMEA plc acquired a new stake in shares of Kimco Realty during the second quarter worth about $42,000. Finally, Clearstead Advisors LLC boosted its position in Kimco Realty by 92.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,426 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,166 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on KIM shares. Scotiabank increased their price target on shares of Kimco Realty from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 19th. Evercore set a $25.00 price objective on shares of Kimco Realty in a report on Friday, May 1st. Truist Financial increased their price objective on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a "hold" rating in a research note on Thursday, May 28th. Wolfe Research upgraded shares of Kimco Realty from a "peer perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research note on Monday, June 22nd. Finally, Stifel Nicolaus set a $28.00 target price on shares of Kimco Realty in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.50.

Kimco Realty Stock Up 0.4%

Shares of KIM stock opened at $24.32 on Thursday. Kimco Realty Corporation has a twelve month low of $19.76 and a twelve month high of $26.65. The stock has a market cap of $16.32 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.58 and a beta of 0.95. The stock has a 50 day moving average of $25.19 and a 200 day moving average of $23.89. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.84.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.46 EPS for the quarter, topping the consensus estimate 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 return on equity of 5.76% and a net margin of 27.76%.The business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. Kimco Realty has set its FY 2026 guidance at 1.830-1.840 EPS. As a group, sell-side analysts expect that Kimco Realty Corporation will post 1.84 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Friday, September 4th will be given a dividend of $0.28 per share. This is a boost from Kimco Realty's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, September 4th. Kimco Realty's dividend payout ratio (DPR) is 122.35%.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation NYSE: KIM is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company's portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco's core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.

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