First Bank & Trust Purchases 41,925 Shares of Kimco Realty Corporation $KIM

Key Points

• First Bank & Trust increased its Kimco Realty stake by 406.9% in the second quarter, purchasing 41,925 additional shares and bringing its holdings to 52,228 shares valued at approximately $1.324 million.
• Institutional investors own 89.25% of Kimco Realty, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $26.41.
• Kimco Realty raised its quarterly dividend from $0.26 to $0.28 per share, representing a $1.12 annualized dividend and a 4.6% yield; the stock recently opened at $24.12.

First Bank & Trust raised its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 406.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,228 shares of the real estate investment trust's stock after purchasing an additional 41,925 shares during the period. First Bank & Trust's holdings in Kimco Realty were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Kimco Realty during the 4th quarter worth approximately $215,615,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Kimco Realty by 541.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust's stock valued at $137,756,000 after buying an additional 5,322,009 shares during the period. Invesco Ltd. lifted its holdings in Kimco Realty by 34.9% in the fourth quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust's stock valued at $344,933,000 after buying an additional 4,399,959 shares during the period. Bank of America Corp DE boosted its stake in Kimco Realty by 38.0% in the first quarter. Bank of America Corp DE now owns 8,753,550 shares of the real estate investment trust's stock valued at $196,692,000 after acquiring an additional 2,412,675 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in Kimco Realty by 200.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,574,515 shares of the real estate investment trust's stock valued at $72,455,000 after acquiring an additional 2,383,236 shares during the last quarter. Institutional investors own 89.25% of the company's stock.

Analyst Ratings Changes

KIM has been the subject of a number of analyst reports. Scotiabank lifted their target price on shares of Kimco Realty from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 19th. Raymond James Financial reissued a "strong-buy" rating and issued a $29.00 price target on shares of Kimco Realty in a research note on Monday, June 29th. Jefferies Financial Group upgraded Kimco Realty to a "hold" rating in a research report on Friday, June 26th. Stifel Nicolaus set a $28.00 price objective on Kimco Realty in a research note on Thursday, June 11th. Finally, Wolfe Research upgraded Kimco Realty from a "peer perform" rating to an "outperform" rating and set a $28.00 price objective for the company in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.41.

Kimco Realty Stock Down 1.4%

Kimco Realty stock opened at $24.12 on Tuesday. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 2.68 and a beta of 0.95. The company's 50 day simple moving average is $25.20 and its 200 day simple moving average is $23.72. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.23 and a quick ratio of 5.23. Kimco Realty Corporation has a fifty-two week low of $19.76 and a fifty-two week high of $26.65.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, September 4th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.6%. This is a boost from Kimco Realty's previous quarterly dividend of $0.26. The ex-dividend date is Friday, September 4th. Kimco Realty's dividend payout ratio (DPR) is 122.35%.

Kimco Realty Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation NYSE: KIM is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company's portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco's core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.

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