Meiji Yasuda Life Insurance Co Buys Shares of 22,616 Kimco Realty Corporation $KIM

Key Points

• Meiji Yasuda Life Insurance Co has acquired 22,616 shares of Kimco Realty Corporation, valued at approximately $480,000, as part of their investment strategy in the first quarter.
• Kimco Realty reported a Q2 earnings per share of $0.44, beating analysts' expectations and showing a 5% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.25 per share, representing a 4.4% dividend yield, despite having a high dividend payout ratio of 120.48%.

Meiji Yasuda Life Insurance Co bought a new stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,616 shares of the real estate investment trust's stock, valued at approximately $480,000.

Other hedge funds have also recently modified their holdings of the company. Squarepoint Ops LLC boosted its holdings in shares of Kimco Realty by 40.9% during the 4th quarter. Squarepoint Ops LLC now owns 383,862 shares of the real estate investment trust's stock valued at $8,994,000 after buying an additional 111,496 shares in the last quarter. D.A. Davidson & CO. bought a new stake in shares of Kimco Realty during the 1st quarter valued at $209,000. Woodline Partners LP bought a new stake in shares of Kimco Realty during the 4th quarter valued at $9,057,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Kimco Realty by 45.6% during 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 buying an additional 12,700 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 buying an additional 4,051 shares in the last quarter. Institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Down 0.2%

Kimco Realty stock traded down $0.06 during mid-day trading on Friday, reaching $22.41. The stock had a trading volume of 3,489,630 shares, compared to its average volume of 3,356,062. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.62 and a beta of 1.32. The company has a 50-day moving average price of $21.74 and a two-hundred day moving average price of $21.15. Kimco Realty Corporation has a one year low of $17.93 and a one 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 announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $525.18 million for the quarter, compared to analysts' expectations of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. Kimco Realty's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.25 per share. 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 is currently 120.48%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on KIM shares. Barclays boosted their target price on shares of Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. Piper Sandler dropped their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Evercore ISI boosted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a report on Monday, September 8th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Mizuho upped their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Kimco Realty has a consensus rating of "Moderate Buy" and an average price target of $24.85.

About Kimco Realty

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.