Cibc World Markets Corp Increases Holdings in Kimco Realty Corp (NYSE:KIM)

Cibc World Markets Corp lifted its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,477 shares of the real estate investment trust’s stock after purchasing an additional 32,855 shares during the period. Cibc World Markets Corp’s holdings in Kimco Realty were worth $7,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its holdings in Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after buying an additional 882,047 shares during the last quarter. FMR LLC increased its stake in shares of Kimco Realty by 6.1% during the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after purchasing an additional 1,283,352 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Kimco Realty by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock worth $398,468,000 after purchasing an additional 53,378 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Kimco Realty by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,581,547 shares of the real estate investment trust’s stock valued at $224,496,000 after purchasing an additional 101,293 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Kimco Realty by 842.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock valued at $145,420,000 after purchasing an additional 5,598,091 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $20.94 on Wednesday. The stock’s 50-day simple moving average is $21.92 and its two-hundred day simple moving average is $23.24. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.83. The firm has a market capitalization of $14.23 billion, a P/E ratio of 37.39, a P/E/G ratio of 2.78 and a beta of 1.53. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. As a group, equities analysts anticipate that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 178.57%.

Wall Street Analyst Weigh In

KIM has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Evercore ISI lowered their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Mizuho cut their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Scotiabank lowered their price target on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Finally, Citigroup cut their price objective on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Monday. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Kimco Realty has a consensus 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.