Principal Financial Group Inc. Increases Holdings in Kimco Realty Corporation (NYSE:KIM)

Principal Financial Group Inc. lifted its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 1.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,403,257 shares of the real estate investment trust's stock after buying an additional 14,234 shares during the period. Principal Financial Group Inc. owned about 0.21% of Kimco Realty worth $29,805,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Kimco Realty during the 4th quarter worth $26,000. Brown Brothers Harriman & Co. increased its holdings in Kimco Realty by 78.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 575 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Kimco Realty by 177.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 911 shares in the last quarter. WASHINGTON TRUST Co acquired a new position in Kimco Realty in the 1st quarter worth about $34,000. Finally, Headlands Technologies LLC acquired a new position in Kimco Realty in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Stock Performance

NYSE:KIM traded up $0.20 during trading hours on Thursday, reaching $21.35. The stock had a trading volume of 605,683 shares, compared to its average volume of 4,505,636. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.47 and a current ratio of 3.47. The stock has a market cap of $14.44 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $25.83. The stock has a 50 day simple moving average of $21.03 and a 200 day simple moving average of $21.38.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. Kimco Realty had a net margin of 26.79% and a return on equity of 5.17%. The firm had revenue of $536.62 million during the quarter, compared to analyst estimates of $520.68 million. During the same quarter last year, the business earned $0.39 earnings per share. The company's quarterly revenue was up 965.3% on a year-over-year basis. On average, research analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 4.68%. Kimco Realty's payout ratio is 129.87%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KIM. Wall Street Zen cut Kimco Realty from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Scotiabank lowered their target price on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Raymond James Financial lowered their target price on 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 lowered their target price on Kimco Realty from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Citigroup reduced their price target on Kimco Realty from $27.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $24.70.

Kimco Realty Company 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.