Kimco Realty Corporation (NYSE:KIM) Stock Position Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Kimco Realty Corporation by 0.2%, owning over 109 million shares worth approximately $2.32 billion as of the latest SEC filing.
• Kimco Realty reported $0.44 EPS for the last quarter, surpassing analysts' estimates, with a year-over-year revenue increase of 5.0%.
• The company declared a quarterly dividend of $0.25, reflecting an annualized amount of $1.00 and a dividend yield of 4.8%.

Vanguard Group Inc. raised its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,292,291 shares of the real estate investment trust's stock after purchasing an additional 272,472 shares during the period. Vanguard Group Inc. owned 16.08% of Kimco Realty worth $2,321,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its stake in shares of 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 worth $30,000 after purchasing an additional 911 shares in the last quarter. WASHINGTON TRUST Co bought a new position in shares of Kimco Realty in the 1st quarter valued at approximately $34,000. Olde Wealth Management LLC bought a new position in shares of Kimco Realty in the 1st quarter valued at approximately $41,000. Sentry Investment Management LLC bought a new position in shares of Kimco Realty in the 1st quarter valued at approximately $45,000. Finally, Menard Financial Group LLC bought a new position in shares of Kimco Realty in the 4th quarter valued at approximately $90,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

KIM opened at $20.80 on Friday. The stock has a market cap of $14.08 billion, a PE ratio of 25.05, a P/E/G ratio of 1.55 and a beta of 1.31. The company has a current ratio of 3.92, a quick ratio of 3.47 and a debt-to-equity ratio of 0.76. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83. The stock's 50 day simple moving average is $21.27 and its 200-day simple moving average is $21.19.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $525.18 million for the quarter, compared to analysts' expectations of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%. Kimco Realty's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. Sell-side analysts forecast that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 4.8%. Kimco Realty's payout ratio is currently 120.48%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Raymond James Financial cut their price objective on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Monday, May 5th. Scotiabank cut their price objective on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Barclays assumed coverage on Kimco Realty in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 price objective on the stock. Finally, Piper Sandler cut their price objective on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

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.

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