Massachusetts Financial Services Co. MA Decreases Position in Kimco Realty Corporation $KIM

Key Points

• Massachusetts Financial Services Co. MA trimmed its stake in Kimco Realty by 35.0% in Q4, selling 2,238,116 shares and finishing the quarter with 4,160,904 shares (about 0.61% ownership) valued at $84.34 million.
• Kimco recently paid a $0.26 quarterly dividend (annualized $1.04), a ~4.5% yield, but the dividend payout ratio is elevated at 128.4%, indicating payouts exceed current earnings.
• Analysts show a mixed view but a consensus of "Moderate Buy" with an average price target of $24.70, reflecting a blend of Buy and Hold ratings and recent target revisions.

Massachusetts Financial Services Co. MA trimmed its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 35.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,160,904 shares of the real estate investment trust's stock after selling 2,238,116 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.61% of Kimco Realty worth $84,342,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Kimco Realty by 2.2% in the third quarter. State Street Corp now owns 47,382,410 shares of the real estate investment trust's stock worth $1,035,306,000 after acquiring an additional 1,034,573 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Kimco Realty by 0.5% in the third quarter. Daiwa Securities Group Inc. now owns 12,195,113 shares of the real estate investment trust's stock valued at $266,463,000 after purchasing an additional 63,054 shares during the period. Centersquare Investment Management LLC boosted its holdings in Kimco Realty by 1.6% in the third quarter. Centersquare Investment Management LLC now owns 11,935,173 shares of the real estate investment trust's stock valued at $260,784,000 after acquiring an additional 188,261 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Kimco Realty by 27.2% in the third quarter. Federated Hermes Inc. now owns 10,649,864 shares of the real estate investment trust's stock valued at $232,700,000 after acquiring an additional 2,280,090 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Kimco Realty by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 10,075,563 shares of the real estate investment trust's stock valued at $220,147,000 after acquiring an additional 51,079 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Stock Up 0.1%

Shares of Kimco Realty stock opened at $23.19 on Tuesday. The business has a 50-day moving average of $22.75 and a 200-day moving average of $21.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.31. The company has a market capitalization of $15.64 billion, a PE ratio of 28.62, a P/E/G ratio of 1.30 and a beta of 1.03. Kimco Realty Corporation has a 1-year low of $19.59 and a 1-year high of $23.91.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.04 annualized dividend and a dividend yield of 4.5%. Kimco Realty's dividend payout ratio (DPR) is presently 128.40%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Weiss Ratings raised Kimco Realty from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. raised their price objective on Kimco Realty from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. Mizuho set a $21.00 price objective on Kimco Realty in a research report on Friday, January 9th. Finally, UBS Group cut their price objective on Kimco Realty from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.70.

Kimco Realty Company Profile

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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