Mitsubishi UFJ Asset Management Co. Ltd. Has $34.52 Million Holdings in Kimco Realty Corporation (NYSE:KIM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Kimco Realty Corporation to 1,625,152 shares, worth approximately $34.52 million, after purchasing an additional 25,157 shares in Q1.
• Institutional investors and hedge funds collectively own 89.25% of Kimco Realty's stock, with several firms, including Golden State Wealth Management, significantly increasing their holdings in the same quarter.
• Kimco Realty announced a quarterly dividend of $0.25 to be paid on September 19th, resulting in a 4.8% dividend yield, despite a high dividend payout ratio of 120.48%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,625,152 shares of the real estate investment trust's stock after purchasing an additional 25,157 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of Kimco Realty worth $34,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC increased its stake in shares of Kimco Realty by 177.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 911 shares during the period. WASHINGTON TRUST Co acquired a new stake in shares of Kimco Realty in the 1st quarter valued at $34,000. Olde Wealth Management LLC acquired a new stake in shares of Kimco Realty in the 1st quarter valued at $41,000. Sentry Investment Management LLC acquired a new stake in Kimco Realty in the first quarter worth about $45,000. Finally, Menard Financial Group LLC acquired a new stake in Kimco Realty in the fourth quarter worth about $90,000. Institutional investors and hedge funds own 89.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KIM. Barclays assumed coverage on Kimco Realty in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 price objective for the company. Raymond James Financial lowered their price target on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Monday, May 5th. Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Scotiabank lowered their target price on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Finally, Piper Sandler lowered their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.57.

Kimco Realty Price Performance

NYSE KIM opened at $20.80 on Friday. The business has a 50 day simple moving average of $21.27 and a 200 day simple moving average of $21.19. Kimco Realty Corporation has a 52-week low of $17.93 and a 52-week high of $25.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.47 and a current ratio of 3.92. The stock has a market cap of $14.08 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.52 and a beta of 1.31.

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 (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The company had revenue of $525.18 million during the quarter, compared to the consensus estimate of $524.75 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.8%. Kimco Realty's dividend payout ratio (DPR) is currently 120.48%.

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.

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