79,978 Shares in Kimco Realty Corp (NYSE:KIM) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd acquired a new stake in Kimco Realty Corp (NYSE:KIM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 79,978 shares of the real estate investment trust’s stock, valued at approximately $1,857,000.

Other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in shares of Kimco Realty in the third quarter worth about $25,000. Brooklyn Investment Group bought a new position in Kimco Realty in the 3rd quarter worth about $37,000. Blue Trust Inc. increased its stake in shares of Kimco Realty by 613.5% in the second quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,816 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Kimco Realty by 52.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 773 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Kimco Realty by 112.6% during the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 1,787 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $25.57 on Monday. The business’s 50 day moving average is $24.14 and its 200-day moving average is $22.02. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $17.24 billion, a PE ratio of 46.49, a PEG ratio of 3.35 and a beta of 1.50. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.83.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The business had revenue of $507.63 million during the quarter, compared to analyst estimates of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. Sell-side analysts predict that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.91%. Kimco Realty’s dividend payout ratio is presently 174.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KIM shares. Argus raised Kimco Realty to a “strong-buy” rating in a report on Friday, September 6th. Truist Financial upped their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Compass Point upped their target price on Kimco Realty from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Evercore ISI boosted their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $20.00 to $23.00 in a research note on Monday, August 19th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

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.