Centersquare Investment Management LLC Has $191.17 Million Stock Holdings in Kimco Realty Corporation (NYSE:KIM)

Key Points

• Centersquare Investment Management LLC increased its stake in Kimco Realty Corporation by 8.9%, acquiring 733,514 shares during the first quarter, totaling about $191.17 million worth of the stock.
• Institutional investors currently own 89.25% of Kimco Realty's stock, indicating strong institutional interest in the company.
• Kimco Realty announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 4.7% and a payout ratio of 120.48%.

Centersquare Investment Management LLC boosted its holdings in Kimco Realty Corporation (NYSE:KIM - Free Report) by 8.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,000,485 shares of the real estate investment trust's stock after purchasing an additional 733,514 shares during the quarter. Kimco Realty makes up 2.0% of Centersquare Investment Management LLC's portfolio, making the stock its 16th biggest holding. Centersquare Investment Management LLC owned approximately 1.32% of Kimco Realty worth $191,170,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in Kimco Realty by 7.9% during the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust's stock valued at $564,560,000 after acquiring an additional 1,755,684 shares during the period. Invesco Ltd. grew its position in Kimco Realty by 18.3% during the fourth quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust's stock valued at $407,301,000 after acquiring an additional 2,692,258 shares during the period. Resolution Capital Ltd grew its position in Kimco Realty by 13.7% during the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock valued at $388,442,000 after acquiring an additional 1,992,550 shares during the period. Northern Trust Corp grew its position in Kimco Realty by 55.0% during the fourth quarter. Northern Trust Corp now owns 10,304,972 shares of the real estate investment trust's stock valued at $241,446,000 after acquiring an additional 3,658,528 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Kimco Realty by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,243,843 shares of the real estate investment trust's stock valued at $240,010,000 after acquiring an additional 134,634 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

KIM traded down $0.40 on Friday, hitting $20.80. 3,489,990 shares of the stock traded hands, compared to its average volume of 4,486,133. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83. The company has a current ratio of 3.92, a quick ratio of 3.47 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $14.08 billion, a PE ratio of 25.05, a P/E/G ratio of 1.55 and a beta of 1.31. The business has a fifty day moving average price of $21.27 and a two-hundred day moving average price of $21.19.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business 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%. Kimco Realty's revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. On average, research analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's payout ratio is presently 120.48%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler decreased their target price on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Scotiabank decreased their target price on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Barclays started coverage on Kimco Realty in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price for the company. Finally, Raymond James Financial decreased their target price on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Monday, May 5th. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.57.

Kimco Realty Company 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.