Schroder Investment Management Group Grows Stake in Kimco Realty Corporation $KIM

Key Points

• Schroder Investment Management Group increased its stake in Kimco Realty by 38.9% in Q3 to 3,630,111 shares (about 0.54% of the company), valued at roughly $78.7 million.
• Kimco announced a quarterly dividend of $0.26 (annualized $1.04) with an ex-dividend date of March 6 and a yield of about 4.5%, though the payout ratio is a high 128.4%.
• Analysts are mixed: several firms cut price targets to the $21–$22 range while Argus maintains a $27 buy target; the consensus rating is a “Moderate Buy” with a $24.23 average target price.

Schroder Investment Management Group raised its position in Kimco Realty Corporation (NYSE:KIM - Free Report) by 38.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,630,111 shares of the real estate investment trust's stock after purchasing an additional 1,016,693 shares during the period. Schroder Investment Management Group owned about 0.54% of Kimco Realty worth $78,665,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of Kimco Realty in the 3rd quarter worth about $27,000. City Holding Co. purchased a new position in Kimco Realty during the 3rd quarter valued at about $30,000. CYBER HORNET ETFs LLC purchased a new position in Kimco Realty during the 2nd quarter valued at about $37,000. Lavaca Capital LLC raised its position in Kimco Realty by 869.5% during the second quarter. Lavaca Capital LLC now owns 1,939 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 1,739 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Kimco Realty in the second quarter valued at about $42,000. Hedge funds and other institutional investors own 89.25% of the company's stock.

Analyst Ratings Changes

KIM has been the topic of several research reports. Citigroup lowered their price target on shares of Kimco Realty from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 3rd. Scotiabank cut their price objective on Kimco Realty from $23.00 to $22.00 and set a "sector perform" rating for the company in a research report on Thursday, November 13th. Wall Street Zen raised Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Wells Fargo & Company lowered their target price on Kimco Realty from $23.00 to $21.00 and set an "equal weight" rating on the stock in a report on Monday, December 15th. Finally, Argus reissued a "buy" rating and issued a $27.00 price target on shares of Kimco Realty in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Kimco Realty presently has an average rating of "Moderate Buy" and a consensus target price of $24.23.

Kimco Realty Stock Performance

Shares of KIM stock opened at $23.18 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 1.30 and a beta of 1.04. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $23.91. The company has a 50 day moving average price of $21.70 and a 200 day moving average price of $21.38.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.04 dividend on an annualized basis and a yield of 4.5%. Kimco Realty's dividend payout ratio (DPR) is presently 128.40%.

About Kimco Realty

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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