Candriam S.C.A. Acquires 180,443 Shares of Kimco Realty Corporation $KIM

Key Points

• Candriam S.C.A. increased its Kimco Realty stake by 33.3% in the third quarter, adding 180,443 shares to bring its holdings to 721,866 shares, valued at about $16.1 million.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $25.88. Recent ratings were mixed, including price-target cuts from Mizuho and Barclays and a target increase from JPMorgan.
• Kimco reported quarterly EPS of $0.47, beating estimates by $0.01, while revenue of $546.15 million fell short of expectations. The company announced a quarterly dividend of $0.28 per share, equivalent to a 4.3% annualized yield.

Candriam S.C.A. increased its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 33.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 721,866 shares of the real estate investment trust's stock after acquiring an additional 180,443 shares during the quarter. Candriam S.C.A. owned approximately 0.11% of Kimco Realty worth $16,091,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CX Institutional lifted its holdings in shares of Kimco Realty by 757.8% in the 3rd quarter. CX Institutional now owns 61,535 shares of the real estate investment trust's stock worth $1,367,000 after purchasing an additional 54,361 shares during the last quarter. Raiffeisen Bank International AG boosted its position in Kimco Realty by 9,783.7% during the 2nd quarter. Raiffeisen Bank International AG now owns 47,936 shares of the real estate investment trust's stock valued at $1,238,000 after purchasing an additional 47,451 shares during the period. Nykredit A S bought a new position in Kimco Realty during the 2nd quarter worth $4,380,000. Cetera Investment Advisers grew its stake in Kimco Realty by 144.4% during the 1st quarter. Cetera Investment Advisers now owns 197,693 shares of the real estate investment trust's stock worth $4,442,000 after buying an additional 116,811 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Kimco Realty in the third quarter worth $4,342,000. Institutional investors own 89.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Kimco Realty from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of Kimco Realty from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, August 25th. Barclays cut their price objective on shares of Kimco Realty from $28.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, September 28th. Weiss Ratings lowered shares of Kimco Realty from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Finally, Truist Financial assumed coverage on shares of Kimco Realty in a research note on Thursday, October 1st. They set a "hold" rating and a $24.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.88.

Kimco Realty Stock Up 1.1%

Shares of Kimco Realty stock opened at $25.79 on Tuesday. The business's fifty day moving average price is $23.24 and its two-hundred day moving average price is $23.64. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.81 and a quick ratio of 3.81. The company has a market capitalization of $17.14 billion, a P/E ratio of 14.14, a PEG ratio of 2.94 and a beta of 0.91. Kimco Realty Corporation has a 1-year low of $19.76 and a 1-year high of $26.65.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $546.15 million during the quarter, compared to analysts' expectations of $549.06 million. Kimco Realty had a return on equity of 7.16% and a net margin of 34.06%. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. As a group, research analysts forecast that Kimco Realty Corporation will post 1.85 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, December 4th. Kimco Realty's dividend payout ratio is currently 104.67%.

Kimco Realty Company Profile

Kimco Realty Corporation is a real estate investment trust that owns and operates open-air shopping centers, with a focus on grocery-anchored properties and mixed-use developments. Its properties bring together grocery stores, retailers, restaurants and service businesses.

Founded in 1958, Kimco has grown into a major U.S. retail real estate owner. Its portfolio serves communities across the United States, including markets in which its centers provide everyday shopping and services.

Kimco is headquartered in Jericho, New York.

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