Meiji Yasuda Asset Management Co Ltd. Acquires 109,040 Shares of Kimco Realty Corporation $KIM

Key Points

• Meiji Yasuda Asset Management Co Ltd. significantly increased its stake in Kimco Realty Corporation by 645.2%, owning a total of 125,940 shares valued at approximately $2.675 million.
• Kimco Realty reported a quarterly earnings per share (EPS) of $0.44, exceeding analysts' estimate of $0.43, with year-over-year revenue growth of 5.0%.
• The company declared a quarterly dividend of $0.25, which translates to an annualized dividend of $1.00 and a yield of 4.4%.

Meiji Yasuda Asset Management Co Ltd. lifted its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 645.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,940 shares of the real estate investment trust's stock after purchasing an additional 109,040 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Kimco Realty were worth $2,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Squarepoint Ops LLC lifted its stake in shares of Kimco Realty by 40.9% in the fourth quarter. Squarepoint Ops LLC now owns 383,862 shares of the real estate investment trust's stock worth $8,994,000 after buying an additional 111,496 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Kimco Realty in the 1st quarter worth approximately $209,000. Woodline Partners LP bought a new position in Kimco Realty in the 4th quarter valued at approximately $9,057,000. Concurrent Investment Advisors LLC lifted its position in Kimco Realty by 45.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 40,559 shares of the real estate investment trust's stock valued at $861,000 after acquiring an additional 12,700 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Kimco Realty by 4.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,524 shares of the real estate investment trust's stock valued at $2,167,000 after purchasing an additional 4,051 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

Kimco Realty stock traded down $0.06 during midday trading on Friday, reaching $22.41. 3,489,630 shares of the company traded hands, compared to its average volume of 3,356,062. The firm has a market capitalization of $15.17 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.62 and a beta of 1.32. The business has a 50 day moving average of $21.74 and a two-hundred day moving average of $21.15. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month 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 data on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. As a group, research analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 4.5%. Kimco Realty's dividend payout ratio (DPR) is presently 120.48%.

Analysts Set New Price Targets

KIM has been the subject of several recent analyst reports. Evercore ISI boosted their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research note on Monday, September 8th. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. LADENBURG THALM/SH SH started coverage on Kimco Realty in a research report on Tuesday, September 9th. They issued a "buy" rating and a $27.00 target price for the company. Mizuho upped their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Finally, Barclays lifted their price target on shares of Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.85.

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.