Public Employees Retirement System of Ohio Makes New $24.38 Million Investment in Kimco Realty Corporation $KIM

Key Points

• Ohio’s public employees’ retirement system acquired 961,591 Kimco Realty shares worth approximately $24.38 million, representing about 0.14% of the REIT. Institutional investors collectively own 89.25% of Kimco’s stock.
• Analysts maintain a generally positive outlook, with Kimco carrying a “Moderate Buy” consensus rating and an average price target of $26.56, compared with a recent price of $23.78.
• Kimco exceeded quarterly earnings expectations, reporting $0.46 EPS and $550.8 million in revenue, while raising its quarterly dividend from $0.26 to $0.28 per share, implying a 4.7% annualized yield.

Public Employees Retirement System of Ohio acquired a new stake in Kimco Realty Corporation (NYSE:KIM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 961,591 shares of the real estate investment trust's stock, valued at approximately $24,376,000. Public Employees Retirement System of Ohio owned about 0.14% of Kimco Realty as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Kimco Realty in the second quarter worth $1,895,765,000. State Street Corp boosted its position in Kimco Realty by 2.2% during the 3rd quarter. State Street Corp now owns 47,382,410 shares of the real estate investment trust's stock valued at $1,035,306,000 after buying an additional 1,034,573 shares during the period. Geode Capital Management LLC grew its holdings in Kimco Realty by 1.2% in 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 last quarter. Invesco Ltd. increased its position in shares of Kimco Realty by 34.9% in the fourth quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust's stock valued at $344,933,000 after acquiring an additional 4,399,959 shares during the period. Finally, Centersquare Investment Management LLC raised its stake in shares of Kimco Realty by 8.1% during the fourth quarter. Centersquare Investment Management LLC now owns 12,905,449 shares of the real estate investment trust's stock valued at $261,593,000 after acquiring an additional 970,276 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company's stock.

Analyst Ratings Changes

KIM has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Kimco Realty from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, August 25th. UBS Group upped their price target on Kimco Realty from $26.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Wells Fargo & Company increased their price objective on Kimco Realty from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Raymond James Financial reiterated a "strong-buy" rating and issued a $29.00 price objective on shares of Kimco Realty in a report on Monday, June 29th. Finally, Jefferies Financial Group raised Kimco Realty to a "hold" rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Kimco Realty presently has an average rating of "Moderate Buy" and an average price target of $26.56.

Kimco Realty Stock Performance

Kimco Realty stock opened at $23.78 on Friday. Kimco Realty Corporation has a fifty-two week low of $19.76 and a fifty-two week high of $26.65. The stock's 50 day simple moving average is $25.04 and its two-hundred day simple moving average is $24.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.53 and a beta of 0.95.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.26. The firm had revenue of $550.80 million during the quarter, compared to analyst estimates of $543.75 million. Kimco Realty had a return on equity of 5.76% and a net margin of 27.76%.The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. Kimco Realty has set its FY 2026 guidance at 1.830-1.840 EPS. As a group, analysts expect that Kimco Realty Corporation will post 1.84 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, September 4th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.7%. This is a positive change from Kimco Realty's previous quarterly dividend of $0.26. The ex-dividend date is Friday, September 4th. Kimco Realty's dividend payout ratio is currently 122.35%.

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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