Kimco Realty Corporation $KIM Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Kimco Realty Corporation by 8.6%, owning 404,152 shares valued at $8,490,000.
• Analysts have provided mixed ratings for Kimco Realty, with ten analysts rating it as a 'hold', five as 'buy', and two as 'strong buy', resulting in an average target price of $24.57.
• Kimco Realty announced a quarterly dividend of $0.25 per share, with a dividend yield of 4.7%, and a payout ratio currently at 120.48%.

Resona Asset Management Co. Ltd. grew its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 8.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 404,152 shares of the real estate investment trust's stock after purchasing an additional 31,875 shares during the period. Resona Asset Management Co. Ltd. owned approximately 0.06% of Kimco Realty worth $8,490,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KIM. GF Fund Management CO. LTD. grew its holdings in shares of Kimco Realty by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 12,767 shares of the real estate investment trust's stock worth $271,000 after purchasing an additional 517 shares during the last quarter. Global Assets Advisory LLC lifted its position in shares of Kimco Realty by 5.4% during the 4th quarter. Global Assets Advisory LLC now owns 10,363 shares of the real estate investment trust's stock valued at $238,000 after buying an additional 528 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Kimco Realty by 0.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 58,335 shares of the real estate investment trust's stock worth $1,239,000 after buying an additional 530 shares during the last quarter. Naviter Wealth LLC increased its position in shares of Kimco Realty by 1.4% during the first quarter. Naviter Wealth LLC now owns 46,155 shares of the real estate investment trust's stock worth $966,000 after purchasing an additional 640 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in shares of Kimco Realty by 4.1% in the first quarter. Meeder Advisory Services Inc. now owns 16,412 shares of the real estate investment trust's stock worth $349,000 after buying an additional 653 shares in the last quarter. Institutional investors own 89.25% of the company's stock.

Kimco Realty Price Performance

Shares of Kimco Realty stock traded up $0.4650 during trading on Tuesday, hitting $21.5750. 640,837 shares of the company were exchanged, compared to its average volume of 4,817,153. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $25.83. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average price of $21.29 and a 200 day moving average price of $21.11. The stock has a market capitalization of $14.61 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.55 and a beta of 1.31.

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

Kimco Realty Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on KIM. Scotiabank reduced their target price on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler decreased their price target on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Raymond James Financial dropped their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Monday, May 5th. Finally, Barclays initiated coverage on shares of Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price objective for the company. Two equities research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

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.