Lecap Asset Management Ltd. Takes Position in Kimco Realty Corporation $KIM

Key Points

• Lecap Asset Management Ltd. has acquired a new stake in Kimco Realty Corporation, purchasing 36,967 shares valued at approximately $777,000 in the second quarter.
• Several hedge funds have increased their positions in Kimco Realty, with Invesco Ltd. and Amundi notably boosting their stakes by 14.7% and 54.2%, respectively, during the first quarter.
• Kimco Realty recently declared a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 4.7%, though its dividend payout ratio is currently over 120%.

Lecap Asset Management Ltd. purchased a new stake in Kimco Realty Corporation (NYSE:KIM - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 36,967 shares of the real estate investment trust's stock, valued at approximately $777,000.

Several other hedge funds have also bought and sold shares of KIM. Invesco Ltd. grew its position in shares of Kimco Realty by 14.7% during the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock valued at $423,441,000 after purchasing an additional 2,552,276 shares in the last quarter. Northern Trust Corp increased its stake in Kimco Realty by 2.8% in the 1st quarter. Northern Trust Corp now owns 10,590,796 shares of the real estate investment trust's stock worth $224,949,000 after acquiring an additional 285,824 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kimco Realty by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,718,796 shares of the real estate investment trust's stock worth $206,427,000 after acquiring an additional 137,249 shares in the last quarter. Amundi raised its holdings in shares of Kimco Realty by 54.2% during the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock worth $186,646,000 after acquiring an additional 3,253,031 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its position in shares of Kimco Realty by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock valued at $191,170,000 after acquiring an additional 733,514 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KIM shares. Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Mizuho lifted their price target on Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. LADENBURG THALM/SH SH assumed coverage on Kimco Realty in a research note on Tuesday, September 9th. They set a "buy" rating and a $27.00 price objective on the stock. Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a research note on Monday, September 8th. Finally, Piper Sandler cut their target price on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Kimco Realty currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.85.

Insider Buying and Selling

In related news, Director Mary Hogan Preusse sold 23,100 shares of Kimco Realty stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $21.66, for a total transaction of $500,346.00. Following the completion of the sale, the director owned 40,260 shares in the company, valued at $872,031.60. This trade represents a 36.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.

Kimco Realty Stock Down 0.8%

Shares of NYSE:KIM opened at $21.34 on Friday. The firm has a market capitalization of $14.45 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The business has a 50 day simple moving average of $21.81 and a two-hundred day simple moving average of $21.21. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The firm had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company's revenue for the quarter was up 5.0% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, equities analysts predict 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 was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.25 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.7%. Kimco Realty's dividend payout ratio is presently 120.48%.

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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