Alliancebernstein L.P. Increases Position in Kimco Realty Corporation $KIM

Key Points

• Alliancebernstein L.P. increased its stake in Kimco Realty by 7.5%, owning approximately 1.16 million shares valued at $24.7 million.
• Kimco Realty's shares have received a combination of ratings, from a "Strong Buy" to "Hold," with a consensus price target of $24.68.
• A quarterly dividend of $0.25 is set to be paid on September 19th, representing an annual yield of 4.5% and reflecting a dividend payout ratio of 120.48%.

Alliancebernstein L.P. grew its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,163,726 shares of the real estate investment trust's stock after purchasing an additional 81,463 shares during the quarter. Alliancebernstein L.P. owned approximately 0.17% of Kimco Realty worth $24,718,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Invesco Ltd. grew its position in shares of Kimco Realty by 14.7% in the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock valued at $423,441,000 after purchasing an additional 2,552,276 shares during the period. Resolution Capital Ltd boosted 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 worth $388,442,000 after acquiring an additional 1,992,550 shares during the last quarter. Northern Trust Corp boosted its position in Kimco Realty by 2.8% during the first quarter. Northern Trust Corp now owns 10,590,796 shares of the real estate investment trust's stock worth $224,949,000 after acquiring an additional 285,824 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Kimco Realty by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,718,796 shares of the real estate investment trust's stock worth $206,427,000 after acquiring an additional 137,249 shares during the last quarter. Finally, Amundi boosted its position in Kimco Realty by 54.2% during the first quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock worth $186,646,000 after acquiring an additional 3,253,031 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 27th. Mizuho lifted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. LADENBURG THALM/SH SH began coverage on shares of Kimco Realty in a research note on Tuesday, September 9th. They set a "buy" rating and a $27.00 target price on the stock. Piper Sandler reduced 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. Finally, Evercore ISI lifted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $24.85.

Kimco Realty Trading Down 0.2%

Shares of Kimco Realty 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. The firm's 50 day moving average price is $21.74 and its two-hundred day moving average price is $21.15. The firm has a market cap of $15.17 billion, a PE ratio of 26.99, a PEG ratio of 1.63 and a beta of 1.32. Kimco Realty Corporation has a 52-week low of $17.93 and a 52-week 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.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly 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. The business had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Sell-side 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's dividend payout ratio is presently 120.48%.

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.