Public Employees Retirement System of Ohio Purchases 13,350 Shares of Kimco Realty Corporation $KIM

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Kimco Realty Corporation by 1.1%, acquiring an additional 13,350 shares, bringing its total ownership to approximately 1.1 million shares valued at nearly $25 million.
• Kimco Realty recently reported earnings of $0.44 per share for the last quarter, surpassing analysts' expectations and showing a 5% increase in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.25, which results in an annualized dividend yield of 4.6%, although its payout ratio stands at a high 120.48%.

Public Employees Retirement System of Ohio boosted its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186,849 shares of the real estate investment trust's stock after buying an additional 13,350 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.18% of Kimco Realty worth $24,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new stake in Kimco Realty in the 1st quarter valued at about $209,000. Concurrent Investment Advisors LLC boosted its stake in Kimco Realty by 45.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 40,559 shares of the real estate investment trust's stock valued at $861,000 after purchasing an additional 12,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Kimco Realty by 4.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,524 shares of the real estate investment trust's stock valued at $2,167,000 after purchasing an additional 4,051 shares during the last quarter. Jump Financial LLC acquired a new position in Kimco Realty during the 1st quarter valued at about $261,000. Finally, Vert Asset Management LLC boosted its stake in Kimco Realty by 6.0% during the 1st quarter. Vert Asset Management LLC now owns 315,773 shares of the real estate investment trust's stock valued at $6,707,000 after purchasing an additional 17,966 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $21.63 on Thursday. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $25.83. The stock's 50 day moving average price is $21.85 and its 200-day moving average price is $21.17. The company has a market capitalization of $14.65 billion, a PE ratio of 26.06, a PEG ratio of 1.59 and a beta of 1.32. 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 (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, topping 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 firm had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company's 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 analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, September 5th. Kimco Realty's payout ratio is 120.48%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KIM shares. Mizuho lifted their price target on Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Evercore ISI lifted their price target on Kimco Realty from $22.00 to $23.00 and gave the company an "in-line" rating in a research note on Monday, September 8th. LADENBURG THALM/SH SH started coverage on Kimco Realty in a research note on Tuesday, September 9th. They set a "buy" rating and a $27.00 price target for the company. Piper Sandler cut their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.85.

Kimco Realty 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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