Kimco Realty Corporation $KIM Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Kimco Realty Corporation by 61.0%, owning 356,780 shares worth approximately $7.58 million at the end of the last quarter.
• Kimco Realty recently posted an earnings per share (EPS) of $0.44 for the quarter, surpassing estimates, with quarterly revenue of $525.18 million, reflecting a 5.0% year-over-year increase.
• The company declared a $0.25 quarterly dividend, with a yield of 4.5% and an annualized dividend of $1.00, despite a high dividend payout ratio of 120.48%.

Korea Investment CORP lifted its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 61.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,780 shares of the real estate investment trust's stock after acquiring an additional 135,200 shares during the period. Korea Investment CORP owned approximately 0.05% of Kimco Realty worth $7,578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in KIM. Northern Trust Corp grew its position in shares of Kimco Realty by 2.8% during the 1st quarter. Northern Trust Corp now owns 10,590,796 shares of the real estate investment trust's stock valued at $224,949,000 after acquiring an additional 285,824 shares during the period. Keystone Global Partners LLC bought a new stake in shares of Kimco Realty during the 1st quarter valued at $30,000. Versor Investments LP grew its position in shares of Kimco Realty by 158.3% during the 1st quarter. Versor Investments LP now owns 102,147 shares of the real estate investment trust's stock valued at $2,170,000 after acquiring an additional 62,600 shares during the period. Horizon Investments LLC lifted its stake in shares of Kimco Realty by 6.4% during the 1st quarter. Horizon Investments LLC now owns 9,926 shares of the real estate investment trust's stock valued at $211,000 after buying an additional 600 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Kimco Realty by 341.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 256,191 shares of the real estate investment trust's stock valued at $5,442,000 after buying an additional 198,104 shares in the last quarter. Institutional investors own 89.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KIM. Barclays began coverage on shares of Kimco Realty in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 target price on the stock. Mizuho lifted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Piper Sandler lowered their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Raymond James Financial lowered their target price on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.63.

Kimco Realty Trading Up 0.0%

KIM stock traded up $0.0060 during mid-day trading on Monday, reaching $22.2060. The company had a trading volume of 2,752,608 shares, compared to its average volume of 4,340,157. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. The firm has a 50 day moving average of $21.37 and a 200 day moving average of $21.09. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83. The company has a market capitalization of $15.04 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.61 and a beta of 1.31.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. During the same period last year, the firm earned $0.41 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, equities analysts predict that Kimco Realty Corporation will post 1.71 earnings per share 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. Investors of record on Friday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's dividend payout ratio (DPR) is 120.48%.

About Kimco Realty

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.