Kimco Realty Corporation $KIM Shares Purchased by Lighthouse Investment Partners LLC

Key Points

• Lighthouse Investment Partners LLC raised its stake in Kimco by 67.5%, buying 405,000 shares to own 1,005,000 shares worth about $21.96 million, representing roughly 0.15% of Kimco and the firm's 16th largest position.
• Kimco announced a quarterly dividend of $0.26 payable March 19 (ex-dividend March 6), equal to $1.04 annually for a ~4.5% yield, with a payout ratio of 128.4%.
• Analysts maintain a consensus rating of Moderate Buy with a $24.23 target; KIM trades near $22.90, has a $15.44 billion market cap, and a one-year range of $17.93–$23.91.

Lighthouse Investment Partners LLC raised its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 67.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,005,000 shares of the real estate investment trust's stock after purchasing an additional 405,000 shares during the quarter. Kimco Realty accounts for approximately 0.7% of Lighthouse Investment Partners LLC's portfolio, making the stock its 16th largest position. Lighthouse Investment Partners LLC owned about 0.15% of Kimco Realty worth $21,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KIM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Kimco Realty by 59.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,247 shares of the real estate investment trust's stock valued at $2,351,000 after buying an additional 41,265 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Kimco Realty by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 639,985 shares of the real estate investment trust's stock valued at $13,593,000 after acquiring an additional 38,554 shares during the period. Geneos Wealth Management Inc. purchased a new position in Kimco Realty during the 1st quarter valued at about $61,000. Campbell & CO Investment Adviser LLC acquired a new position in Kimco Realty in the 2nd quarter valued at about $332,000. Finally, National Pension Service grew its position in Kimco Realty by 30.9% in the 2nd quarter. National Pension Service now owns 34,961 shares of the real estate investment trust's stock valued at $735,000 after acquiring an additional 8,263 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

Shares of KIM opened at $22.90 on Monday. The stock has a 50-day simple moving average of $21.93 and a 200-day simple moving average of $21.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The stock has a market capitalization of $15.44 billion, a PE ratio of 28.28, a PEG ratio of 1.28 and a beta of 1.04. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $23.91.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.04 annualized dividend and a yield of 4.5%. Kimco Realty's dividend payout ratio (DPR) is 128.40%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KIM. Barclays reissued an "overweight" rating and set a $25.00 price target on shares of Kimco Realty in a research report on Tuesday, January 13th. Evercore set a $24.00 price objective on shares of Kimco Realty in a report on Friday, February 13th. Truist Financial cut their target price on shares of Kimco Realty from $23.00 to $22.00 and set a "hold" rating on the stock in a research note on Tuesday, January 20th. JPMorgan Chase & Co. increased their target price on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Finally, Citigroup decreased their price target on shares of Kimco Realty from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Kimco Realty currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.23.

Kimco Realty Company Profile

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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