Acadian Asset Management LLC Acquires 143,308 Shares of Kimco Realty Corporation $KIM

Key Points

• Acadian Asset Management LLC increased its stake in Kimco Realty by 90.7%, now owning 301,320 shares worth approximately $6.4 million following significant purchases in Q1.
• Kimco Realty reported a $0.44 EPS for the last quarter, exceeding analysts' expectations and marking a 5.0% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 4.5%, with a payout ratio of 120.48%.

Acadian Asset Management LLC raised its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 90.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 301,320 shares of the real estate investment trust's stock after purchasing an additional 143,308 shares during the period. Acadian Asset Management LLC's holdings in Kimco Realty were worth $6,399,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new position in Kimco Realty during the 1st quarter valued at about $29,000. Golden State Wealth Management LLC lifted its position in Kimco Realty by 177.6% during 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 during the period. Keystone Global Partners LLC acquired a new position in Kimco Realty during the 1st quarter valued at about $30,000. WASHINGTON TRUST Co acquired a new position in Kimco Realty during the 1st quarter valued at about $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Kimco Realty during the 1st quarter valued at about $38,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KIM has been the subject of a number of recent analyst reports. Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Piper Sandler lowered their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Barclays upped their price target on Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. Evercore ISI upped their price target on Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a research note on Monday, September 8th. Finally, Mizuho upped their price target on Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. One 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.85.

Kimco Realty Stock Up 1.0%

NYSE KIM traded up $0.23 during trading hours on Thursday, reaching $22.18. 2,646,094 shares of the company's stock were exchanged, compared to its average volume of 3,428,353. The company's 50-day moving average is $21.82 and its two-hundred day moving average is $21.16. 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 quick ratio of 3.92 and a current ratio of 3.92. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.59 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, topping 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 business had revenue of $525.18 million during the quarter, compared to analysts' expectations of $524.75 million. During the same period in the prior year, the business earned $0.41 EPS. Kimco Realty's revenue for the quarter was up 5.0% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders 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 dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, September 5th. Kimco Realty's dividend payout ratio (DPR) is currently 120.48%.

About Kimco Realty

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.