Kimco Realty Corporation (NYSE:KIM) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,403,257 shares of the real estate investment trust's stock after acquiring an additional 14,234 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of Kimco Realty worth $29,805,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Kimco Realty during the fourth quarter valued at about $26,000. Golden State Wealth Management LLC grew its holdings in shares of Kimco Realty by 177.6% in the first 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. Brown Brothers Harriman & Co. grew its holdings in shares of Kimco Realty by 78.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 575 shares in the last quarter. WASHINGTON TRUST Co acquired a new position in shares of Kimco Realty in the first quarter valued at approximately $34,000. Finally, Headlands Technologies LLC acquired a new position in shares of Kimco Realty in the fourth quarter valued at approximately $45,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Up 0.5%

NYSE:KIM traded up $0.11 during trading hours on Wednesday, hitting $21.19. The stock had a trading volume of 3,765,280 shares, compared to its average volume of 4,997,172. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 0.75. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $25.83. The business has a 50 day simple moving average of $21.03 and a two-hundred day simple moving average of $21.38. The company has a market cap of $14.34 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

Kimco Realty (NYSE:KIM - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $536.62 million during the quarter, compared to analysts' expectations of $520.68 million. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. The business's revenue was up 965.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. Analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Friday, June 6th. Kimco Realty's payout ratio is 129.87%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James Financial dropped their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Monday, May 5th. Piper Sandler dropped their price objective on shares of Kimco Realty from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Wall Street Zen downgraded shares of Kimco Realty from a "hold" rating to a "sell" rating in a research note on Saturday. Barclays initiated coverage on shares of Kimco Realty in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $24.70.

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.