Northern Trust Corp Purchases 285,824 Shares of Kimco Realty Corporation $KIM

Key Points

• Northern Trust Corp has increased its stake in Kimco Realty Corporation by 2.8%, acquiring an additional 285,824 shares, bringing its total ownership to approximately 10.59 million shares valued at about $224.95 million.
• Several institutional investors, including Invesco Ltd and Deutsche Bank AG, have also raised their positions in Kimco Realty recently, indicating strong interest from hedge funds, with 89.25% of the stock being held by institutional shareholders.
• Analyst ratings vary, with Kimco Realty receiving two "Strong Buy" and five "Buy" ratings, reflecting a consensus price target of $24.63, amid mixed price objective adjustments from various firms.

Northern Trust Corp increased its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,590,796 shares of the real estate investment trust's stock after purchasing an additional 285,824 shares during the quarter. Northern Trust Corp owned approximately 1.57% of Kimco Realty worth $224,949,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KIM. Invesco Ltd. lifted its position in Kimco Realty by 14.7% in the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock worth $423,441,000 after purchasing an additional 2,552,276 shares during the period. Deutsche Bank AG raised its stake in Kimco Realty by 94.7% during the fourth quarter. Deutsche Bank AG now owns 4,177,662 shares of the real estate investment trust's stock worth $97,883,000 after acquiring an additional 2,031,722 shares in the last quarter. Resolution Capital Ltd raised its stake in Kimco Realty by 13.7% during the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock worth $388,442,000 after acquiring an additional 1,992,550 shares in the last quarter. Kettle Hill Capital Management LLC raised its stake in Kimco Realty by 180.9% during the fourth quarter. Kettle Hill Capital Management LLC now owns 1,409,811 shares of the real estate investment trust's stock worth $33,032,000 after acquiring an additional 907,929 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its stake in Kimco Realty by 8.9% during the first quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock worth $191,170,000 after acquiring an additional 733,514 shares in the last quarter. 89.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Mizuho increased their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday. Barclays assumed coverage on Kimco Realty in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price objective for the company. Raymond James Financial dropped their price objective on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Monday, May 5th. Piper Sandler dropped their price objective on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.63.

Kimco Realty Stock Performance

Shares of NYSE:KIM opened at $21.5350 on Friday. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $25.83. The firm has a market cap of $14.58 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The business has a fifty day moving average of $21.32 and a 200-day moving average of $21.11.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its earnings results 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. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The company had revenue of $525.18 million during the quarter, compared to analyst estimates of $524.75 million. During the same period last year, the company posted $0.41 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, equities research analysts predict that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.6%. Kimco Realty's dividend payout ratio (DPR) is 120.48%.

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.

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