M&T Bank Corp Purchases 65,486 Shares of Kimco Realty Corporation $KIM

Key Points

• M&T Bank Corp increased its stake in Kimco Realty by 369.7% in the fourth quarter, buying 65,486 shares and bringing its total holdings to 83,200 shares valued at about $1.69 million.
• Kimco Realty reported better-than-expected quarterly results, posting EPS of $0.46 versus $0.45 expected and revenue of $558.02 million versus $542.73 million expected.
• The REIT also declared a quarterly dividend of $0.26 per share, equal to an annualized yield of 4.4%, while analysts currently rate the stock a consensus “Hold” with a $24.71 target price.

M&T Bank Corp lifted its position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 369.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,200 shares of the real estate investment trust's stock after purchasing an additional 65,486 shares during the period. M&T Bank Corp's holdings in Kimco Realty were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its holdings in shares of Kimco Realty by 1.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 342,313 shares of the real estate investment trust's stock worth $6,939,000 after purchasing an additional 4,769 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of Kimco Realty by 39.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 2,571 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 728 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Kimco Realty by 7.1% during the fourth quarter. Sanctuary Advisors LLC now owns 41,257 shares of the real estate investment trust's stock worth $836,000 after purchasing an additional 2,726 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Kimco Realty by 2.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 42,594 shares of the real estate investment trust's stock worth $863,000 after purchasing an additional 925 shares during the last quarter. Finally, Lebenthal Global Advisors LLC grew its holdings in shares of Kimco Realty by 7.4% during the fourth quarter. Lebenthal Global Advisors LLC now owns 47,291 shares of the real estate investment trust's stock worth $959,000 after purchasing an additional 3,253 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Price Performance

Kimco Realty stock opened at $23.49 on Friday. The stock's 50 day moving average is $23.19 and its 200 day moving average is $21.72. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.78 and a quick ratio of 3.78. The firm has a market cap of $15.84 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.28 and a beta of 0.97. Kimco Realty Corporation has a one year low of $19.76 and a one year high of $24.31.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. The company had revenue of $558.02 million for the quarter, compared to analyst estimates of $542.73 million. Kimco Realty had a return on equity of 5.82% and a net margin of 28.54%.The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. Kimco Realty has set its FY 2026 guidance at 1.810-1.840 EPS. As a group, research analysts expect that Kimco Realty Corporation will post 1.83 EPS for the current year.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid 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 is Friday, June 5th. Kimco Realty's payout ratio is currently 120.93%.

Analyst Upgrades and Downgrades

KIM has been the topic of several research reports. Evercore set a $25.00 price target on Kimco Realty in a report on Friday, May 1st. Truist Financial boosted their price target on Kimco Realty from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Monday, March 23rd. Robert W. Baird set a $25.00 price target on Kimco Realty in a report on Friday, February 13th. Scotiabank lifted their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 24th. Finally, Piper Sandler lifted 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. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $24.71.

Kimco Realty 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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