Price T Rowe Associates Inc. MD Has $121.78 Million Position in Kimco Realty Corporation $KIM

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Kimco Realty by 9.1%, now holding a position worth $121.78 million after selling over half a million shares.
• Kimco Realty recently posted better-than-expected earnings of $0.44 per share, surpassing analyst estimates and marking a revenue increase of 5.0% year-over-year.
• The company declared a quarterly dividend of $0.25, representing a 4.5% dividend yield with a payout ratio of 120.48%.

Price T Rowe Associates Inc. MD lessened its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 9.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,733,286 shares of the real estate investment trust's stock after selling 573,123 shares during the period. Price T Rowe Associates Inc. MD owned 0.85% of Kimco Realty worth $121,776,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Kimco Realty by 14.7% in the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock valued at $423,441,000 after buying an additional 2,552,276 shares during the period. Resolution Capital Ltd boosted its holdings in Kimco Realty by 13.7% in the fourth quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust's stock valued at $388,442,000 after acquiring an additional 1,992,550 shares during the last quarter. Northern Trust Corp increased its position in Kimco Realty by 2.8% in the first quarter. Northern Trust Corp now owns 10,590,796 shares of the real estate investment trust's stock worth $224,949,000 after purchasing an additional 285,824 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Kimco Realty by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,718,796 shares of the real estate investment trust's stock worth $206,427,000 after purchasing an additional 137,249 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in Kimco Realty by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock worth $191,170,000 after purchasing an additional 733,514 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KIM has been the topic of several recent research reports. Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Piper Sandler reduced their price objective on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Barclays began coverage on shares of Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 target price for the company. Raymond James Financial cut their price target on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Monday, May 5th. Finally, Mizuho lifted 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, August 20th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.63.

Kimco Realty Price Performance

Shares of KIM stock opened at $22.1850 on Monday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $25.83. The firm has a fifty day moving average of $21.35 and a 200-day moving average of $21.09. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 1.61 and a beta of 1.31.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The firm had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. During the same period in the previous year, the company posted $0.41 earnings per share. The company's revenue for the quarter was up 5.0% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, equities research analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, September 5th. Kimco Realty's dividend payout ratio 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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