State of New Jersey Common Pension Fund D Has $17.62 Million Stake in Kimco Realty Corporation (NYSE:KIM)

Key Points

• The State of New Jersey Common Pension Fund D decreased its stake in Kimco Realty Corporation by 4.6%, now holding 829,752 shares valued at approximately $17.62 million.
• Kimco Realty reported $0.44 earnings per share for the last quarter, exceeding analyst estimates, and announced a quarterly dividend of $0.25 per share.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Kimco Realty with an average price target of $24.57.

State of New Jersey Common Pension Fund D decreased its holdings in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 829,752 shares of the real estate investment trust's stock after selling 40,195 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.12% of Kimco Realty worth $17,624,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of KIM. Raymond James Financial Inc. bought a new stake in shares of Kimco Realty during the fourth quarter worth about $2,478,000. Townsquare Capital LLC grew its holdings in shares of Kimco Realty by 5.3% during the fourth quarter. Townsquare Capital LLC now owns 13,770 shares of the real estate investment trust's stock worth $323,000 after purchasing an additional 688 shares during the last quarter. Mariner LLC grew its holdings in shares of Kimco Realty by 51.6% during the fourth quarter. Mariner LLC now owns 114,457 shares of the real estate investment trust's stock worth $2,682,000 after purchasing an additional 38,964 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Kimco Realty during the fourth quarter worth about $233,000. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Kimco Realty by 45.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 81,887 shares of the real estate investment trust's stock worth $1,919,000 after purchasing an additional 25,687 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Wall Street Analysts Forecast Growth

KIM has been the topic of several research reports. Raymond James Financial reduced their price target on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Monday, May 5th. Piper Sandler reduced their price target on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Barclays initiated coverage on Kimco Realty in a report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price target on the stock. Wall Street Zen upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Scotiabank reduced their price target on Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.57.

Kimco Realty Price Performance

Kimco Realty stock opened at $21.20 on Friday. The stock has a market capitalization of $14.36 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.54 and a beta of 1.31. Kimco Realty Corporation has a 52-week low of $17.93 and a 52-week high of $25.83. The stock's 50 day moving average price is $21.29 and its two-hundred day moving average price is $21.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92.

Kimco Realty (NYSE:KIM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $525.18 million for the quarter, compared to analysts' expectations of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 EPS. On average, equities analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, September 5th. Kimco Realty's dividend payout ratio is presently 120.48%.

Kimco Realty Company 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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