Sumitomo Mitsui Trust Group Inc. Boosts Stake in Kimco Realty Corp (NYSE:KIM)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Kimco Realty Corp (NYSE:KIM) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,786,626 shares of the real estate investment trust’s stock after acquiring an additional 25,317 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.56% of Kimco Realty worth $87,925,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in Kimco Realty in the third quarter valued at about $302,000. Apollon Wealth Management LLC increased its stake in Kimco Realty by 18.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 14,887 shares of the real estate investment trust’s stock valued at $346,000 after purchasing an additional 2,325 shares in the last quarter. Catalytic Wealth RIA LLC acquired a new position in Kimco Realty during the third quarter worth $294,000. AEGON ASSET MANAGEMENT UK Plc boosted its position in Kimco Realty by 0.9% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 846,112 shares of the real estate investment trust’s stock worth $19,647,000 after purchasing an additional 7,524 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its holdings in Kimco Realty by 8.4% in the third quarter. Gulf International Bank UK Ltd now owns 47,170 shares of the real estate investment trust’s stock valued at $1,095,000 after purchasing an additional 3,648 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on KIM shares. Robert W. Baird boosted their price objective on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial increased their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group lifted their price objective on Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, UBS Group increased their target price on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.14.

Kimco Realty Trading Down 0.4 %

NYSE KIM opened at $24.72 on Friday. The company has a market cap of $16.66 billion, a P/E ratio of 44.95, a P/E/G ratio of 3.26 and a beta of 1.50. Kimco Realty Corp has a 12 month low of $17.57 and a 12 month high of $25.19. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The company has a 50-day moving average of $23.70 and a 200-day moving average of $21.47.

Kimco Realty (NYSE:KIM) last issued its quarterly 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 company had revenue of $507.63 million for the quarter, compared to analyst estimates of $502.78 million. During the same period last year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts predict that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s payout ratio is 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.