Lord Abbett & CO. LLC Acquires 146,640 Shares of Kimco Realty Corp (NYSE:KIM)

Lord Abbett & CO. LLC boosted its position in shares of Kimco Realty Corp (NYSE:KIM - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 906,152 shares of the real estate investment trust's stock after buying an additional 146,640 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.13% of Kimco Realty worth $21,231,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in KIM. Summit Securities Group LLC bought a new position in shares of Kimco Realty in the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Kimco Realty in the 3rd quarter valued at $31,000. Brown Brothers Harriman & Co. grew its holdings in Kimco Realty by 78.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 575 shares during the period. Headlands Technologies LLC acquired a new position in shares of Kimco Realty during the fourth quarter valued at about $45,000. Finally, Catalyst Capital Advisors LLC increased its stake in Kimco Realty by 102.9% in the 4th quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust's stock valued at $51,000 after buying an additional 1,104 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Kimco Realty Stock Up 0.8 %

Shares of NYSE:KIM traded up $0.17 during midday trading on Friday, reaching $21.12. The company had a trading volume of 1,579,349 shares, compared to its average volume of 4,438,071. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The business's 50 day moving average price is $20.68 and its 200 day moving average price is $22.57. The stock has a market cap of $14.35 billion, a PE ratio of 37.74, a P/E/G ratio of 2.78 and a beta of 1.25. Kimco Realty Corp has a 1-year low of $17.93 and a 1-year high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. The business had revenue of $536.62 million during the quarter, compared to analysts' expectations of $520.68 million. During the same period in the prior year, the company earned $0.39 EPS. The firm's quarterly revenue was up 965.3% compared to the same quarter last year. Research analysts forecast that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.74%. Kimco Realty's dividend payout ratio is presently 178.57%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KIM shares. Jefferies Financial Group cut shares of Kimco Realty from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. Mizuho lowered their price target on Kimco Realty from $26.00 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Citigroup cut their target price on Kimco Realty from $27.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. lowered their price target on Kimco Realty from $25.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their price target on shares of Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $24.68.

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.