California State Teachers Retirement System Grows Stake in Kimco Realty Corporation $KIM

Key Points

• California State Teachers Retirement System increased its Kimco Realty stake by 2,156.5% in the second quarter, acquiring 23.2 million additional shares to own about 3.62% of the REIT, valued at $615.4 million. Institutional investors collectively hold 89.25% of Kimco’s shares.
• Kimco reported quarterly EPS of $0.46, beating the $0.20 analyst consensus, while revenue rose 4.9% year over year to $550.8 million. The company also raised its quarterly dividend to $0.28, equating to a 4.8% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $26.53 versus its reported price of $23.21.

California State Teachers Retirement System grew its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 2,156.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,275,059 shares of the real estate investment trust's stock after purchasing an additional 23,199,273 shares during the quarter. California State Teachers Retirement System owned approximately 3.62% of Kimco Realty worth $615,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Readystate Asset Management LP purchased a new position in Kimco Realty during the second quarter valued at approximately $591,000. Wedmont Private Capital purchased a new position in shares of Kimco Realty during the 2nd quarter valued at $243,000. Saudi Central Bank boosted its holdings in Kimco Realty by 88.8% in the 2nd quarter. Saudi Central Bank now owns 47,185 shares of the real estate investment trust's stock worth $1,196,000 after buying an additional 22,189 shares during the period. Raiffeisen Bank International AG boosted its holdings in Kimco Realty by 9,783.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 47,936 shares of the real estate investment trust's stock worth $1,238,000 after buying an additional 47,451 shares during the period. Finally, Syon Capital LLC increased its stake in Kimco Realty by 61.9% in the 2nd quarter. Syon Capital LLC now owns 16,092 shares of the real estate investment trust's stock worth $408,000 after buying an additional 6,153 shares in the last quarter. Institutional investors own 89.25% of the company's stock.

Kimco Realty Price Performance

KIM stock opened at $23.21 on Tuesday. Kimco Realty Corporation has a 52 week low of $19.76 and a 52 week high of $26.65. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $24.67 and a two-hundred day simple moving average of $24.09. The firm has a market capitalization of $15.57 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 2.67 and a beta of 0.93.

Kimco Realty (NYSE:KIM - Get Free Report) last posted 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. The firm had revenue of $550.80 million for the quarter, compared to the consensus estimate of $543.75 million. Kimco Realty had a net margin of 27.76% and a return on equity of 5.76%. The business's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. Kimco Realty has set its FY 2026 guidance at 1.830-1.840 EPS. Analysts anticipate that Kimco Realty Corporation will post 1.84 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Friday, September 4th will be paid a $0.28 dividend. This is an increase from Kimco Realty's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, September 4th. Kimco Realty's payout ratio is currently 131.76%.

Analyst Ratings Changes

A number of research firms have commented on KIM. Jefferies Financial Group raised Kimco Realty to a "hold" rating in a report on Friday, June 26th. The Goldman Sachs Group reissued a "neutral" rating and set a $28.00 target price on shares of Kimco Realty in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of Kimco Realty in a research note on Friday, July 31st. Raymond James Financial reissued a "strong-buy" rating and set a $29.00 price objective on shares of Kimco Realty in a report on Monday, June 29th. Finally, Scotiabank lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $26.53.

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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