Kimco Realty Corporation $KIM Shares Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Kimco Realty stake by 1,568.7% in the first quarter, acquiring 1.16 million additional shares and bringing its holdings to 1.24 million shares valued at approximately $27.8 million.
• Institutional ownership remains high at 89.25%, with several other investors—including M&T Bank, Strs Ohio and Legal & General—also increasing their positions.
• Kimco reported quarterly EPS of $0.46 and revenue of $558.02 million, both ahead of analyst expectations. Analysts have a “Moderate Buy” consensus rating and an average price target of $26.12.

Renaissance Technologies LLC boosted its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 1,568.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,235,436 shares of the real estate investment trust's stock after purchasing an additional 1,161,400 shares during the period. Renaissance Technologies LLC owned about 0.18% of Kimco Realty worth $27,760,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in KIM. M&T Bank Corp boosted its stake in shares of Kimco Realty by 4,368.2% in the fourth quarter. M&T Bank Corp now owns 791,494 shares of the real estate investment trust's stock valued at $16,044,000 after buying an additional 773,780 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in Kimco Realty in the fourth quarter valued at $900,000. Geode Capital Management LLC lifted its holdings in Kimco Realty by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust's stock valued at $386,617,000 after acquiring an additional 223,936 shares during the period. Legal & General Group Plc boosted its position in shares of Kimco Realty by 7.5% during the 4th quarter. Legal & General Group Plc now owns 6,323,989 shares of the real estate investment trust's stock worth $128,187,000 after purchasing an additional 443,046 shares in the last quarter. Finally, Strs Ohio grew its stake in shares of Kimco Realty by 566.3% during the 1st quarter. Strs Ohio now owns 722,282 shares of the real estate investment trust's stock worth $16,230,000 after purchasing an additional 613,876 shares during the period. Hedge funds and other institutional investors own 89.25% of the company's stock.

Kimco Realty Price Performance

Kimco Realty stock opened at $25.98 on Thursday. The firm has a market capitalization of $17.52 billion, a PE ratio of 30.21, a P/E/G ratio of 2.89 and a beta of 0.95. Kimco Realty Corporation has a 52 week low of $19.76 and a 52 week high of $26.65. The firm's 50-day simple moving average is $25.09 and its 200 day simple moving average is $23.49. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. The company had revenue of $558.02 million during the quarter, compared to analysts' expectations of $542.73 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.82%. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, equities research analysts predict that Kimco Realty Corporation will post 1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on KIM shares. Truist Financial raised their price objective on shares of Kimco Realty from $23.00 to $25.00 and gave the company a "hold" rating in a research note on Thursday, May 28th. UBS Group upped their target price on shares of Kimco Realty from $26.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Wolfe Research raised shares of Kimco Realty from a "peer perform" rating to an "outperform" rating and set a $28.00 target price for the company in a report on Monday, June 22nd. Barclays lifted their price target on shares of Kimco Realty from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley boosted their price target on Kimco Realty from $23.50 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.12.

About Kimco Realty

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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