Vestcor Inc Has $3.66 Million Holdings in Kimco Realty Corporation (NYSE:KIM)

Key Points

• Vestcor Inc significantly increased its stake in Kimco Realty by 1,107.3% during the first quarter, now holding 172,288 shares valued at approximately $3.66 million.
• Kimco Realty recently announced a quarterly dividend of $0.25, representing an annualized dividend yield of 4.56% and a payout ratio of 129.87%.
• Analysts have mixed views on Kimco Realty, with a consensus rating of "Hold" and an average price target of $24.70, following recent adjustments from various analysts.

Vestcor Inc increased its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 1,107.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 172,288 shares of the real estate investment trust's stock after acquiring an additional 158,018 shares during the period. Vestcor Inc's holdings in Kimco Realty were worth $3,659,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Meeder Advisory Services Inc. grew its holdings in Kimco Realty by 4.1% during the first quarter. Meeder Advisory Services Inc. now owns 16,412 shares of the real estate investment trust's stock valued at $349,000 after purchasing an additional 653 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Kimco Realty by 11.8% in the first quarter. Mackenzie Financial Corp now owns 72,596 shares of the real estate investment trust's stock worth $1,542,000 after buying an additional 7,689 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Kimco Realty by 33.3% during the 1st quarter. LPL Financial LLC now owns 176,215 shares of the real estate investment trust's stock worth $3,743,000 after buying an additional 44,010 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Kimco Realty by 105.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,259,781 shares of the real estate investment trust's stock valued at $26,758,000 after buying an additional 648,021 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in Kimco Realty by 13.6% in the 1st quarter. HB Wealth Management LLC now owns 10,434 shares of the real estate investment trust's stock valued at $222,000 after buying an additional 1,246 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays started coverage on Kimco Realty in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $25.00 price objective for the company. Raymond James Financial reduced their price objective on Kimco Realty from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Monday, May 5th. Wall Street Zen downgraded shares of Kimco Realty from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Scotiabank cut their target price on shares of Kimco Realty from $24.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Piper Sandler decreased their price target on shares of Kimco Realty from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Kimco Realty presently has a consensus rating of "Hold" and a consensus price target of $24.70.

Kimco Realty Stock Performance

NYSE KIM opened at $21.93 on Thursday. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $25.83. The company has a 50 day moving average of $21.24 and a 200-day moving average of $21.25. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 0.75. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.61 and a beta of 1.24.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $536.62 million during the quarter, compared to analysts' expectations of $520.68 million. Kimco Realty had a return on equity of 5.17% and a net margin of 26.79%. The business's revenue was up 965.3% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. On average, equities analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.25 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. Kimco Realty's dividend payout ratio (DPR) is presently 129.87%.

About Kimco Realty

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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