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

Principal Financial Group Inc. lifted its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.21% of Kimco Realty worth $29,805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in Kimco Realty by 7.9% in the fourth quarter. FMR LLC now owns 24,095,602 shares of the real estate investment trust's stock worth $564,560,000 after purchasing an additional 1,755,684 shares during the last quarter. Geode Capital Management LLC boosted its position in Kimco Realty by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust's stock worth $411,179,000 after purchasing an additional 377,074 shares during the last quarter. Invesco Ltd. boosted its position in Kimco Realty by 18.3% in the fourth quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust's stock worth $407,301,000 after purchasing an additional 2,692,258 shares during the last quarter. Resolution Capital Ltd boosted its position in Kimco Realty by 13.7% in the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock worth $388,442,000 after purchasing an additional 1,992,550 shares during the last quarter. Finally, Norges Bank purchased a new position in Kimco Realty in the fourth quarter worth about $363,436,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on KIM shares. Scotiabank lowered their price objective on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Citigroup lowered their price objective 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. Raymond James Financial lowered their price objective on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Monday, May 5th. Barclays started coverage on Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price objective on the stock. Finally, Wall Street Zen cut Kimco Realty from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $24.70.

Kimco Realty Price Performance

NYSE:KIM traded up $0.11 during trading hours on Friday, reaching $21.48. The stock had a trading volume of 3,593,146 shares, compared to its average volume of 4,515,315. The company has a 50 day moving average price of $21.05 and a two-hundred day moving average price of $21.38. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.83. 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 capitalization of $14.53 billion, a PE ratio of 27.90, a PEG ratio of 1.55 and a beta of 1.24.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. The company had revenue of $536.62 million during the quarter, compared to analysts' expectations of $520.68 million. During the same quarter in the previous year, the business earned $0.39 EPS. Kimco Realty's revenue was up 965.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Friday, June 6th. Kimco Realty's dividend payout ratio is 129.87%.

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.