Cetera Investment Advisers Purchases 30,683 Shares of Kimco Realty Corporation (NYSE:KIM)

Key Points

• Cetera Investment Advisers increased its stake in Kimco Realty Corporation by 94.0%, acquiring an additional 30,683 shares during the first quarter, bringing its total holdings to 63,327 shares valued at approximately $1.34 million.
• Kimco Realty recently announced a quarterly dividend of $0.25 per share, with a dividend yield of 4.8%, indicating strong shareholder returns despite a high dividend payout ratio of 120.48%.
• Analysts generally have a positive outlook on Kimco Realty, with a consensus rating of "Moderate Buy" and a target price of $24.57, although some have adjusted their price targets downward.

Cetera Investment Advisers raised its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 94.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,327 shares of the real estate investment trust's stock after purchasing an additional 30,683 shares during the period. Cetera Investment Advisers' holdings in Kimco Realty were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Resolution Capital Ltd raised 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 purchasing an additional 1,992,550 shares during the period. Northern Trust Corp raised 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 purchasing an additional 3,658,528 shares during the period. Dimensional Fund Advisors LP raised 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 purchasing an additional 134,634 shares during the period. Price T Rowe Associates Inc. MD raised its position in Kimco Realty by 3.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,306,409 shares of the real estate investment trust's stock valued at $147,760,000 after purchasing an additional 204,665 shares during the period. Finally, Deutsche Bank AG raised its position in Kimco Realty by 94.7% during the fourth quarter. Deutsche Bank AG now owns 4,177,662 shares of the real estate investment trust's stock valued at $97,883,000 after purchasing an additional 2,031,722 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Trading Down 1.9%

KIM opened at $20.80 on Monday. The stock's fifty day moving average is $21.27 and its two-hundred day moving average is $21.18. The company has a market capitalization of $14.08 billion, a P/E ratio of 25.05, a PEG ratio of 1.52 and a beta of 1.31. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings data 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 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%. Kimco Realty's quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. Analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's dividend payout ratio (DPR) is 120.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KIM shares. Barclays started coverage on Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price objective on the stock. Scotiabank reduced their price target on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler reduced their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Raymond James Financial reduced their price target 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. Ten investment 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's stock. Based on data from MarketBeat, Kimco Realty has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

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.

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