Versor Investments LP Acquires 62,600 Shares of Kimco Realty Corporation $KIM

Key Points

• Versor Investments LP significantly increased its stake in Kimco Realty Corporation by 158.3%, acquiring an additional 62,600 shares, bringing its total holdings to 102,147 shares valued at $2,170,000.
• Multiple institutional investors, including Kovitz Investment Group Partners LLC and Boston Partners, have also boosted their positions in Kimco Realty during the first quarter, indicating a strong interest in the stock.
• Kimco Realty recently declared a quarterly dividend of $0.25 per share, with an annualized yield of 4.7%, despite a high dividend payout ratio of 120.48%.

Versor Investments LP lifted its stake in Kimco Realty Corporation (NYSE:KIM - Free Report) by 158.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,147 shares of the real estate investment trust's stock after buying an additional 62,600 shares during the period. Versor Investments LP's holdings in Kimco Realty were worth $2,170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Kimco Realty in the fourth quarter worth about $2,478,000. Townsquare Capital LLC boosted its holdings in Kimco Realty by 5.3% in the fourth quarter. Townsquare Capital LLC now owns 13,770 shares of the real estate investment trust's stock worth $323,000 after acquiring an additional 688 shares in the last quarter. Mariner LLC grew its position in Kimco Realty by 51.6% during the 4th quarter. Mariner LLC now owns 114,457 shares of the real estate investment trust's stock valued at $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 valued at approximately $233,000. Finally, Gamco Investors INC. ET AL raised its holdings in Kimco Realty by 45.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 81,887 shares of the real estate investment trust's stock worth $1,919,000 after acquiring an additional 25,687 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Stock Performance

Shares of KIM stock traded down $0.0840 during trading hours on Wednesday, reaching $21.6160. 4,360,124 shares of the company traded hands, compared to its average volume of 4,829,810. The firm has a 50-day moving average price of $21.30 and a 200 day moving average price of $21.11. The company has a market cap of $14.64 billion, a P/E ratio of 26.04, a P/E/G ratio of 1.54 and a beta of 1.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. 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, topping analysts' consensus estimates of $0.43 by $0.01. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The business had revenue of $525.18 million during the quarter, compared to analyst estimates of $524.75 million. During the same quarter in the prior year, the business posted $0.41 EPS. Kimco Realty's revenue for the quarter 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. As a group, sell-side analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.6%. Kimco Realty's dividend payout ratio is presently 120.48%.

Analysts Set New Price Targets

Several research firms recently commented on KIM. Piper Sandler reduced their price objective on Kimco Realty from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Wall Street Zen upgraded shares of Kimco Realty from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Raymond James Financial lowered their price objective on shares of Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Monday, May 5th. Scotiabank dropped their target price on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Finally, Mizuho boosted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.63.

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.