M&T Bank Corp Acquires 773,780 Shares of Kimco Realty Corporation $KIM

Key Points

• M&T Bank Corp boosted its stake in Kimco Realty by 4,368.2%
• Multiple large institutions (including UBS, SG Americas, Federated Hermes, Barclays and Marshall Wace) also materially increased positions, leaving institutional investors with about 89.25% ownership of the company.
• Kimco pays a quarterly dividend of $0.26 (annualized $1.04) for a yield of 4.4%, but carries a high payout ratio of 128.4%; analysts have a consensus rating of "Moderate Buy" with an average price target of $24.73.

M&T Bank Corp lifted its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 4,368.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 791,494 shares of the real estate investment trust's stock after purchasing an additional 773,780 shares during the quarter. M&T Bank Corp owned 0.12% of Kimco Realty worth $16,044,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KIM. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Kimco Realty by 541.6% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust's stock valued at $137,756,000 after purchasing an additional 5,322,009 shares in the last quarter. SG Americas Securities LLC lifted its position in Kimco Realty by 10,776.5% in the 4th quarter. SG Americas Securities LLC now owns 2,425,889 shares of the real estate investment trust's stock valued at $49,173,000 after acquiring an additional 2,403,585 shares in the last quarter. Federated Hermes Inc. lifted its position in Kimco Realty by 27.2% in the 3rd 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 in the last quarter. Barclays PLC lifted its position in Kimco Realty by 113.0% in the 3rd quarter. Barclays PLC now owns 3,185,904 shares of the real estate investment trust's stock valued at $69,612,000 after acquiring an additional 1,690,137 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Kimco Realty by 762.6% in the 3rd quarter. Marshall Wace LLP now owns 1,900,128 shares of the real estate investment trust's stock valued at $41,518,000 after acquiring an additional 1,679,852 shares in the last quarter. Institutional investors own 89.25% of the company's stock.

Kimco Realty Stock Up 1.2%

Shares of KIM stock opened at $23.85 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The firm's 50-day moving average is $23.07 and its 200-day moving average is $21.59. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.32 and a beta of 1.03. Kimco Realty Corporation has a 52-week low of $19.59 and a 52-week high of $24.31.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, March 6th. Kimco Realty's dividend payout ratio is presently 128.40%.

Wall Street Analyst Weigh In

Several research firms have commented on KIM. Wall Street Zen cut Kimco Realty from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Scotiabank boosted their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 24th. UBS Group cut their price target on shares of Kimco Realty from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, January 8th. Truist Financial boosted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Monday, March 23rd. Finally, Piper Sandler upped their price objective on Kimco Realty from $26.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $24.73.

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.

Want to see what other hedge funds are holding KIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimco Realty Corporation (NYSE:KIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.