Sarasin & Partners LLP Takes Position in Kimco Realty Corporation $KIM

Key Points

• Sarasin & Partners LLP acquired a new stake in Kimco Realty Corporation, purchasing 29,520 shares valued at approximately $621,000 in the second quarter.
• Several hedge funds have increased their investments in Kimco Realty, with Squarepoint Ops LLC raising its holdings by 40.9%, now owning 383,862 shares worth nearly $9 million.
• Kimco Realty declared a quarterly dividend of $0.25, resulting in an annualized yield of 4.5%, with a current payout ratio of 120.48%.

Sarasin & Partners LLP bought a new stake in Kimco Realty Corporation (NYSE:KIM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,520 shares of the real estate investment trust's stock, valued at approximately $621,000.

Other large investors also recently modified their holdings of the company. AlphaQuest LLC acquired a new position in Kimco Realty during the 1st quarter valued at about $29,000. Golden State Wealth Management LLC increased its position in shares of Kimco Realty by 177.6% in 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 in the last quarter. Keystone Global Partners LLC purchased a new position in Kimco Realty during the first quarter valued at approximately $30,000. WASHINGTON TRUST Co purchased a new position in Kimco Realty during the first quarter valued at approximately $34,000. Finally, GKV Capital Management Co. Inc. purchased a new position in Kimco Realty during the first quarter valued at approximately $38,000. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Trading Down 1.0%

Shares of NYSE:KIM traded down $0.23 during midday trading on Friday, hitting $21.94. 7,513,102 shares of the stock were exchanged, compared to its average volume of 3,411,472. The business's 50-day moving average price is $21.83 and its 200 day moving average price is $21.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.59 and a beta of 1.32. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating 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 firm earned $0.41 earnings per share. 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. Analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KIM shares. Barclays boosted their price objective on shares of Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Evercore ISI boosted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Monday, September 8th. LADENBURG THALM/SH SH began coverage on shares of Kimco Realty in a research report on Tuesday, September 9th. They set a "buy" rating and a $27.00 target price on the stock. Piper Sandler dropped their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.85.

About Kimco Realty

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.