PensionDanmark Pensionsforsikringsaktieselskab Has $6.95 Million Position in Kimco Realty Corporation $KIM

Key Points

• PensionDanmark increased its Kimco Realty stake by 221.1% in the second quarter, adding 188,771 shares to own 274,146 shares valued at approximately $6.95 million.
• Institutional investors own 89.25% of Kimco Realty, while the stock recently traded at $24.44, within its 52-week range of $19.76 to $26.65.
• Kimco raised its quarterly dividend from $0.26 to $0.28 per share, implying a 4.6% annualized yield; analysts maintain a “Moderate Buy” consensus with a $26.12 average price target.

PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in Kimco Realty Corporation (NYSE:KIM - Free Report) by 221.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 274,146 shares of the real estate investment trust's stock after acquiring an additional 188,771 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Kimco Realty were worth $6,950,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. M&T Bank Corp boosted its stake in shares of Kimco Realty by 4,368.2% in the fourth quarter. M&T Bank Corp now owns 791,494 shares of the real estate investment trust's stock valued at $16,044,000 after buying an additional 773,780 shares during the period. Geode Capital Management LLC increased its stake in Kimco Realty by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust's stock worth $386,617,000 after acquiring an additional 223,936 shares during the period. Legal & General Group Plc raised its holdings in Kimco Realty by 7.5% in the 4th quarter. Legal & General Group Plc now owns 6,323,989 shares of the real estate investment trust's stock valued at $128,187,000 after acquiring an additional 443,046 shares in the last quarter. Strs Ohio lifted its position in shares of Kimco Realty by 566.3% during the 1st quarter. Strs Ohio now owns 722,282 shares of the real estate investment trust's stock valued at $16,230,000 after acquiring an additional 613,876 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Kimco Realty by 9.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 539,577 shares of the real estate investment trust's stock valued at $10,937,000 after acquiring an additional 48,672 shares during the period. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Up 0.0%

Shares of KIM opened at $24.44 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.78 and a current ratio of 5.23. Kimco Realty Corporation has a 52 week low of $19.76 and a 52 week high of $26.65. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.68 and a beta of 0.95. The stock has a fifty day moving average of $25.19 and a 200-day moving average of $23.68.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.6%. This is an increase from Kimco Realty's previous quarterly dividend of $0.26. The ex-dividend date is Friday, September 4th. Kimco Realty's dividend payout ratio (DPR) is presently 122.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KIM shares. Raymond James Financial restated a "strong-buy" rating and issued a $29.00 price target on shares of Kimco Realty in a research report on Monday, June 29th. Jefferies Financial Group upgraded shares of Kimco Realty to a "hold" rating in a research note on Friday, June 26th. Wolfe Research raised shares of Kimco Realty from a "peer perform" rating to an "outperform" rating and set a $28.00 price target for the company in a report on Monday, June 22nd. UBS Group boosted their price objective on shares of Kimco Realty from $26.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Kimco Realty in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.12.

About Kimco Realty

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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