Landscape Capital Management L.L.C. Boosts Stock Position in Kimco Realty Corporation $KIM

Key Points

• Landscape Capital Management L.L.C. increased its stake in Kimco Realty by 91.3% in Q3, adding 103,213 shares to hold 216,239 shares worth about $4.725 million.
• Kimco declared a quarterly dividend of $0.26 (annualized $1.04), implying a 4.5% yield, though the payout ratio is elevated at 128.4%.
• Analyst sentiment is mixed-but-leaning-positive with a Moderate Buy consensus and a $24.23 average price target, amid recent upgrades and price-target adjustments from firms like Weiss, JPMorgan and Wells Fargo.

Landscape Capital Management L.L.C. boosted its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 91.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,239 shares of the real estate investment trust's stock after acquiring an additional 103,213 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Kimco Realty were worth $4,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quent Capital LLC purchased a new position in shares of Kimco Realty in the third quarter valued at approximately $27,000. City Holding Co. purchased a new stake in Kimco Realty during the 3rd quarter worth approximately $30,000. CYBER HORNET ETFs LLC acquired a new stake in Kimco Realty during the 2nd quarter worth approximately $37,000. Lavaca Capital LLC lifted its holdings in Kimco Realty by 869.5% during the 2nd quarter. Lavaca Capital LLC now owns 1,939 shares of the real estate investment trust's stock worth $41,000 after buying an additional 1,739 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in Kimco Realty in the 2nd quarter valued at approximately $42,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on KIM. Weiss Ratings upgraded shares of Kimco Realty from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, March 5th. Wells Fargo & Company decreased their target price on Kimco Realty from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, December 15th. Argus reissued a "buy" rating and set a $27.00 target price on shares of Kimco Realty in a research note on Monday, December 1st. JPMorgan Chase & Co. increased their price target on Kimco Realty from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. Finally, Morgan Stanley set a $23.50 price objective on Kimco Realty in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Kimco Realty currently has an average rating of "Moderate Buy" and a consensus price target of $24.23.

Kimco Realty Stock Up 0.3%

Shares of NYSE KIM traded up $0.08 during midday trading on Friday, hitting $23.03. 311,245 shares of the company's stock were exchanged, compared to its average volume of 5,954,527. The firm's fifty day simple moving average is $21.87 and its 200-day simple moving average is $21.41. The company has a market cap of $15.52 billion, a PE ratio of 28.39, a P/E/G ratio of 1.30 and a beta of 1.04. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $23.91. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.04 dividend on an annualized basis and a yield of 4.5%. Kimco Realty's payout ratio is 128.40%.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation NYSE: KIM is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company's portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco's core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.

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