KLP Kapitalforvaltning AS Takes Position in Kimco Realty Corp (NYSE:KIM)

KLP Kapitalforvaltning AS acquired a new stake in shares of Kimco Realty Corp (NYSE:KIM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 602,200 shares of the real estate investment trust’s stock, valued at approximately $14,110,000.

Other large investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Kimco Realty during the 3rd quarter valued at about $31,000. Brooklyn Investment Group purchased a new stake in Kimco Realty during the third quarter valued at about $37,000. Catalyst Capital Advisors LLC lifted its stake in Kimco Realty by 102.9% during the fourth 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 in the last quarter. Quarry LP purchased a new stake in Kimco Realty during the third quarter valued at about $51,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Kimco Realty during the fourth quarter valued at about $77,000. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

Shares of KIM opened at $20.78 on Monday. The firm has a market cap of $14.12 billion, a PE ratio of 37.10, a PEG ratio of 2.78 and a beta of 1.53. The firm’s 50 day moving average price is $21.86 and its 200 day moving average price is $23.19. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.83.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting 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, research analysts expect that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.81%. The ex-dividend date was Friday, March 7th. Kimco Realty’s payout ratio is presently 178.57%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Mizuho reduced their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Scotiabank reduced their price objective on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Finally, Evercore ISI reduced their price target on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Ten equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Kimco Realty Company Profile

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.