Strs Ohio Acquires New Position in Kimco Realty Corporation $KIM

Key Points

• Strs Ohio has acquired a new stake in Kimco Realty Corporation, purchasing 496,101 shares valued at approximately $10.54 million, representing about 0.07% of the total company shares.
• Kimco Realty reported earnings of $0.44 per share for the last quarter, exceeding analysts' expectations, with revenue of $525.18 million, a 5% increase year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, indicating a 4.5% dividend yield, despite a payout ratio of 120.48%.

Strs Ohio bought a new position in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 496,101 shares of the real estate investment trust's stock, valued at approximately $10,537,000. Strs Ohio owned 0.07% of Kimco Realty at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Invesco Ltd. raised its stake in Kimco Realty by 14.7% during the first quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock worth $423,441,000 after purchasing an additional 2,552,276 shares during the period. Northern Trust Corp raised its stake in Kimco Realty by 2.8% during the first quarter. Northern Trust Corp now owns 10,590,796 shares of the real estate investment trust's stock worth $224,949,000 after purchasing an additional 285,824 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Kimco Realty by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,718,796 shares of the real estate investment trust's stock worth $206,427,000 after purchasing an additional 137,249 shares during the period. Amundi raised its stake in Kimco Realty by 54.2% during the first quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock worth $186,646,000 after purchasing an additional 3,253,031 shares during the period. Finally, Centersquare Investment Management LLC raised its stake in Kimco Realty by 8.9% during the first quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock worth $191,170,000 after purchasing an additional 733,514 shares during the period. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Trading Up 1.0%

Shares of KIM traded up $0.23 during trading on Thursday, reaching $22.18. 2,646,094 shares of the company traded hands, compared to its average volume of 3,428,353. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $25.83. The stock has a market cap of $15.02 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.59 and a beta of 1.32. The stock has a 50-day simple moving average of $21.82 and a 200-day simple moving average of $21.16. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76.

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

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. Kimco Realty's payout ratio is 120.48%.

Analyst Ratings Changes

A number of equities analysts have commented on KIM shares. LADENBURG THALM/SH SH started coverage on shares of Kimco Realty in a research note on Tuesday, September 9th. They set a "buy" rating and a $27.00 target price on the stock. Piper Sandler reduced 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 note on Monday, August 4th. Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Mizuho lifted their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Finally, Barclays lifted their price target on shares of Kimco Realty from $25.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.85.

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.