MQS Management LLC Acquires New Shares in Kimco Realty Corp (NYSE:KIM)

MQS Management LLC bought a new stake in Kimco Realty Corp (NYSE:KIM) in the third quarter, HoldingsChannel reports. The fund bought 14,970 shares of the real estate investment trust’s stock, valued at approximately $348,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Kimco Realty during the third quarter worth about $25,000. Blue Trust Inc. lifted its stake in 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 buying an additional 1,816 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kimco Realty by 52.6% in 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 in the last quarter. UMB Bank n.a. boosted its holdings in shares of Kimco Realty by 112.6% in the second quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 1,787 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Kimco Realty by 378.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,975 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 3,144 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on KIM shares. UBS Group boosted their price objective on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Evercore ISI boosted their price target on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial upped their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group lifted their target price on Kimco Realty from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price target (up previously from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.14.

Kimco Realty Trading Down 0.4 %

Kimco Realty stock opened at $24.72 on Friday. The stock has a 50-day simple moving average of $23.70 and a 200 day simple moving average of $21.47. The stock has a market capitalization of $16.66 billion, a P/E ratio of 44.95, a PEG ratio of 3.26 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.19.

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

Kimco Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.05%. Kimco Realty’s dividend payout ratio is presently 174.55%.

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.