Vanguard Group Inc. Decreases Stock Position in Kimco Realty Corporation $KIM

Key Points

• Vanguard Group slightly reduced its stake in Kimco in Q4, selling 43,607 shares and finishing with 108,565,830 shares (about 16.03% ownership) valued at roughly $2.20 billion.
• Kimco recently paid a quarterly dividend of $0.26 ($1.04 annualized), representing a 4.4% yield, though its dividend payout ratio is high at 128.4%, indicating payouts exceed reported earnings.
• Shares trade near $23.63 with a 52-week range of $19.59–$24.31 and a $15.94 billion market cap; analysts have a consensus rating of Moderate Buy and an average price target of $24.73.

Vanguard Group Inc. lessened its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 0.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,565,830 shares of the real estate investment trust's stock after selling 43,607 shares during the period. Vanguard Group Inc. owned about 16.03% of Kimco Realty worth $2,200,629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Values First Advisors Inc. boosted its position in Kimco Realty by 1.7% during the 3rd quarter. Values First Advisors Inc. now owns 27,590 shares of the real estate investment trust's stock valued at $603,000 after acquiring an additional 450 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Kimco Realty by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust's stock valued at $663,000 after purchasing an additional 503 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Kimco Realty by 11.2% during the third quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 520 shares in the last quarter. EPG Wealth Management LLC grew its stake in Kimco Realty by 1.8% in the fourth quarter. EPG Wealth Management LLC now owns 30,771 shares of the real estate investment trust's stock worth $624,000 after purchasing an additional 530 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Kimco Realty by 5.0% in the third quarter. Bleakley Financial Group LLC now owns 12,421 shares of the real estate investment trust's stock worth $271,000 after purchasing an additional 589 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Trading Down 0.7%

Shares of NYSE KIM opened at $23.63 on Thursday. The firm's 50 day moving average price is $23.15 and its 200-day moving average price is $21.66. The company has a market cap of $15.94 billion, a PE ratio of 29.17, a P/E/G ratio of 1.33 and a beta of 1.03. Kimco Realty Corporation has a 52-week low of $19.59 and a 52-week high of $24.31. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, March 6th. Kimco Realty's dividend payout ratio is currently 128.40%.

Wall Street Analysts Forecast Growth

KIM has been the subject of several recent research reports. Scotiabank raised their price objective on Kimco Realty from $22.00 to $24.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 24th. Weiss Ratings lowered Kimco Realty from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, April 21st. Truist Financial raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Monday, March 23rd. Morgan Stanley raised their price objective on Kimco Realty from $23.50 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, April 16th. Finally, UBS Group decreased their target price on shares of Kimco Realty from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.73.

Kimco Realty Profile

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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