Bank of New York Mellon Corp Boosts Stake in Kimco Realty Corp (NYSE:KIM)

Bank of New York Mellon Corp lifted its holdings in Kimco Realty Corp (NYSE:KIM) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,953,320 shares of the real estate investment trust’s stock after purchasing an additional 51,656 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kimco Realty were worth $139,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of KIM. Creative Planning raised its stake in shares of Kimco Realty by 3.5% in the third quarter. Creative Planning now owns 51,130 shares of the real estate investment trust’s stock worth $1,187,000 after purchasing an additional 1,740 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Kimco Realty in the third quarter worth $276,000. Farther Finance Advisors LLC raised its stake in shares of Kimco Realty by 20.8% in the third quarter. Farther Finance Advisors LLC now owns 8,283 shares of the real estate investment trust’s stock worth $192,000 after purchasing an additional 1,426 shares during the last quarter. Realta Investment Advisors purchased a new position in shares of Kimco Realty in the third quarter worth $407,000. Finally, Van ECK Associates Corp raised its stake in shares of Kimco Realty by 10.7% in the third quarter. Van ECK Associates Corp now owns 298,909 shares of the real estate investment trust’s stock worth $7,162,000 after purchasing an additional 29,002 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

NYSE:KIM opened at $22.09 on Friday. The stock has a 50-day simple moving average of $22.42 and a two-hundred day simple moving average of $23.37. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The firm has a market capitalization of $15.01 billion, a PE ratio of 39.44, a P/E/G ratio of 2.78 and a beta of 1.50.

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

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.53%. Kimco Realty’s dividend payout ratio is currently 178.57%.

Analyst Ratings Changes

Several research firms have recently weighed in on KIM. JPMorgan Chase & Co. decreased their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. UBS Group lifted their price objective on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Scotiabank cut their price objective on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday. Robert W. Baird lifted their price objective on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company cut their price objective on Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Ten 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 company. According to data from MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and an average target price of $24.43.

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.