Kimco Realty Corporation $KIM Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Kimco Realty Corporation by 22.9% during the 1st quarter, acquiring an additional 115,400 shares, bringing their total to 620,163 shares valued at $13.17 million.
• Several institutional investors, including Deutsche Bank AG which boosted its position by 94.7% in the 4th quarter, have shown significant interest in Kimco Realty, which now has 89.25% of its stock owned by institutional investors.
• Kimco Realty announced a quarterly dividend of $0.25, representing an annualized dividend of $1.00 and a yield of 4.4%, despite a payout ratio of 120.48%.

Adage Capital Partners GP L.L.C. raised its holdings in Kimco Realty Corporation (NYSE:KIM - Free Report) by 22.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 620,163 shares of the real estate investment trust's stock after purchasing an additional 115,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of Kimco Realty worth $13,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in KIM. AlphaQuest LLC purchased a new stake in Kimco Realty in the 1st quarter valued at approximately $29,000. Golden State Wealth Management LLC boosted its holdings in Kimco Realty by 177.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 911 shares in the last quarter. Keystone Global Partners LLC purchased a new stake in Kimco Realty in the 1st quarter valued at approximately $30,000. WASHINGTON TRUST Co purchased a new stake in Kimco Realty in the 1st quarter valued at approximately $34,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in Kimco Realty in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 89.25% of the company's stock.

Kimco Realty Price Performance

KIM stock traded down $0.06 on Friday, reaching $22.41. The company had a trading volume of 3,489,630 shares, compared to its average volume of 3,342,032. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The company's fifty day moving average is $21.74 and its 200 day moving average is $21.16. The company has a market cap of $15.17 billion, a P/E ratio of 26.99, a PEG ratio of 1.63 and a beta of 1.32.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its earnings results 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 return on equity of 5.58% and a net margin of 28.54%.The firm had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. During the same quarter in the prior year, the company earned $0.41 EPS. Kimco Realty's 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, research analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 4.5%. Kimco Realty's payout ratio is 120.48%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KIM. Barclays lifted their price objective on Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. LADENBURG THALM/SH SH started coverage on shares of Kimco Realty in a research report on Tuesday. They set a "buy" rating and a $27.00 price target for the company. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler reduced their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, Mizuho lifted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Kimco Realty currently has a consensus rating of "Moderate Buy" and an average target price of $24.85.

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.