Caisse DE Depot ET Placement DU Quebec Grows Position in Kimco Realty Corporation $KIM

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in Kimco Realty Corporation by 49.7%, owning approximately 956,745 shares valued at $20.32 million.
• Kimco Realty reported $0.44 earnings per share (EPS) for the quarter, which exceeded the consensus estimate of $0.43, alongside a 5% year-over-year revenue increase.
• The firm declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 4.5%, with a payout ratio of 120.48%.

Caisse DE Depot ET Placement DU Quebec raised its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 49.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 956,745 shares of the real estate investment trust's stock after acquiring an additional 317,623 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.14% of Kimco Realty worth $20,321,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of KIM. AlphaQuest LLC bought a new position in shares of Kimco Realty during the first quarter valued at $29,000. Keystone Global Partners LLC bought a new position in shares of Kimco Realty during the first quarter valued at $30,000. Golden State Wealth Management LLC lifted its holdings in Kimco Realty by 177.6% in the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 911 shares during the period. WASHINGTON TRUST Co bought a new position in Kimco Realty in the first quarter valued at about $34,000. Finally, GKV Capital Management Co. Inc. bought a new position in Kimco Realty in the first quarter valued at about $38,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho increased their target price on Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Barclays increased their target price on Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Piper Sandler lowered their target price on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Raymond James Financial lowered their target price on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report 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 equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.75.

Kimco Realty Price Performance

KIM traded up $0.11 on Monday, hitting $22.51. 3,291,369 shares of the company's stock traded hands, compared to its average volume of 3,817,536. The company's 50 day simple moving average is $21.49 and its 200-day simple moving average is $21.09. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 1.63 and a beta of 1.32. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76.

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

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend 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%.

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.