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

Other institutional investors have also modified their holdings of the company. Squarepoint Ops LLC lifted its holdings in shares of Kimco Realty by 40.9% during the 4th quarter. Squarepoint Ops LLC now owns 383,862 shares of the real estate investment trust's stock valued at $8,994,000 after purchasing an additional 111,496 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Kimco Realty during the 1st quarter valued at about $209,000. Woodline Partners LP bought a new position in shares of Kimco Realty during the 4th quarter valued at about $9,057,000. Concurrent Investment Advisors LLC raised its position in Kimco Realty by 45.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 40,559 shares of the real estate investment trust's stock valued at $861,000 after buying an additional 12,700 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Kimco Realty by 4.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,524 shares of the real estate investment trust's stock valued at $2,167,000 after buying an additional 4,051 shares during the last quarter. Institutional investors own 89.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays lifted their target price on Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Evercore ISI lifted their target price on Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Monday, September 8th. Piper Sandler dropped their target price on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Mizuho lifted their target price on Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Kimco Realty currently has an average rating of "Moderate Buy" and an average target price of $24.85.

Kimco Realty Stock Performance

KIM traded up $0.03 during trading on Monday, hitting $22.42. The stock had a trading volume of 200,745 shares, compared to its average volume of 4,680,995. The company has a 50 day moving average price of $21.74 and a 200-day moving average price of $21.15. The firm has a market cap of $15.18 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 1.62 and a beta of 1.32. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $25.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick 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 the consensus estimate of $0.43 by $0.01. The business had revenue of $525.18 million during the quarter, compared to the consensus estimate of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. As a group, research analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date 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.