California State Teachers Retirement System Sells 118,190 Shares of Kimco Realty Corporation $KIM

Key Points

• California State Teachers Retirement System cut its Kimco Realty stake by 11%, selling 118,190 shares and retaining 957,596 shares valued at approximately $24.3 million. Institutional investors collectively own 89.25% of the company.
• Analysts maintain a generally positive outlook, with Kimco holding a consensus rating of “Moderate Buy” and an average price target of $26.53, above its reported trading price of $23.05.
• Kimco reported quarterly earnings and revenue above analyst expectations and raised its quarterly dividend from $0.26 to $0.28 per share, representing an annualized dividend of $1.12 and a 4.9% yield.

California State Teachers Retirement System reduced its holdings in Kimco Realty Corporation (NYSE:KIM - Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 957,596 shares of the real estate investment trust's stock after selling 118,190 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Kimco Realty worth $24,275,059 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Kimco Realty in the 2nd quarter worth approximately $1,895,765,000. Norges Bank purchased a new position in shares of Kimco Realty in the fourth quarter worth $215,615,000. Bank of America Corp DE purchased a new stake in shares of Kimco Realty in the second quarter valued at approximately $235,111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Kimco Realty by 7,715.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,304,565 shares of the real estate investment trust's stock valued at $159,821,000 after buying an additional 6,223,902 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Kimco Realty in the second quarter valued at approximately $156,283,000. Institutional investors own 89.25% of the company's stock.

Analysts Set New Price Targets

KIM has been the subject of several recent analyst reports. Truist Financial raised their target price on Kimco Realty from $23.00 to $25.00 and gave the company a "hold" rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kimco Realty in a research report on Friday, July 31st. Scotiabank increased their target price on Kimco Realty from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 19th. Stifel Nicolaus set a $28.00 target price on Kimco Realty in a research report on Thursday, June 11th. Finally, Citigroup upped their price objective on Kimco Realty from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Kimco Realty presently has an average rating of "Moderate Buy" and a consensus price target of $26.53.

Kimco Realty Trading Down 0.8%

Kimco Realty stock traded down $0.17 during trading on Tuesday, hitting $23.05. The company's stock had a trading volume of 1,560,999 shares, compared to its average volume of 5,167,687. The stock's fifty day moving average is $24.67 and its 200 day moving average is $24.09. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 2.67 and a beta of 0.93. Kimco Realty Corporation has a 1-year low of $19.76 and a 1-year high of $26.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.23 and a current ratio of 5.23.

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

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Friday, September 4th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.9%. This is a positive change from Kimco Realty's previous quarterly dividend of $0.26. Kimco Realty's 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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