Kimco Realty Corporation (NYSE:KIM) Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Kimco Realty Corporation by 8.3% in Q1, acquiring an additional 260,459 shares, bringing its total holdings to approximately 3.38 million shares valued at $71.8 million.
• Kimco Realty reported earnings per share of $0.44 for the last quarter, exceeding estimates and reflecting a 5.0% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.25 per share, representing a yield of 4.7%, with the dividend payout ratio at 120.48%.

Russell Investments Group Ltd. boosted its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,380,512 shares of the real estate investment trust's stock after purchasing an additional 260,459 shares during the period. Russell Investments Group Ltd. owned approximately 0.50% of Kimco Realty worth $71,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in KIM. Golden State Wealth Management LLC increased its position in shares of Kimco Realty by 177.6% during the first quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 911 shares during the period. WASHINGTON TRUST Co purchased a new position in Kimco Realty during the first quarter valued at approximately $34,000. Olde Wealth Management LLC acquired a new stake in Kimco Realty in the first quarter valued at approximately $41,000. Sentry Investment Management LLC acquired a new stake in Kimco Realty in the first quarter valued at approximately $45,000. Finally, Menard Financial Group LLC acquired a new stake in Kimco Realty in the fourth quarter valued at approximately $90,000. Institutional investors own 89.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on KIM. Barclays began coverage on shares of Kimco Realty in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $25.00 target price for the company. Scotiabank lowered their price objective on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Raymond James Financial lowered their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Piper Sandler cut their price objective on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Kimco Realty has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

Kimco Realty Trading Up 0.2%

Shares of Kimco Realty stock traded up $0.04 during mid-day trading on Friday, hitting $21.20. The stock had a trading volume of 3,209,031 shares, compared to its average volume of 4,850,520. The firm has a 50-day moving average of $21.29 and a two-hundred day moving average of $21.14. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month 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 market cap of $14.36 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. 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 prior year, the business posted $0.41 EPS. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The business also recently disclosed 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 4.7%. The ex-dividend date is Friday, September 5th. Kimco Realty's dividend payout ratio is currently 120.48%.

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.