Ilmarinen Mutual Pension Insurance Co Acquires New Position in Kimco Realty Corp (NYSE:KIM)

Ilmarinen Mutual Pension Insurance Co purchased a new position in Kimco Realty Corp (NYSE:KIM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 84,500 shares of the real estate investment trust's stock, valued at approximately $1,980,000.

Several other large investors have also made changes to their positions in the business. Summit Securities Group LLC purchased a new stake in Kimco Realty during the 4th quarter valued at approximately $26,000. Brown Brothers Harriman & Co. raised its position in shares of Kimco Realty by 78.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 575 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Kimco Realty in the 3rd quarter valued at about $31,000. Headlands Technologies LLC purchased a new position in Kimco Realty in the fourth quarter worth about $45,000. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of 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 purchasing an additional 1,104 shares during the period. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KIM has been the subject of a number of recent research reports. 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 dropped their target price on Kimco Realty from $26.00 to $24.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Citigroup decreased their price target on Kimco Realty from $27.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Jefferies Financial Group lowered Kimco Realty from a "buy" rating to a "hold" rating and dropped their price target for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.75.

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Kimco Realty Stock Performance

KIM stock traded up $0.17 during trading on Friday, hitting $19.94. 1,892,122 shares of the company traded hands, compared to its average volume of 4,361,879. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The stock's 50-day simple moving average is $21.18 and its 200 day simple moving average is $22.85. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.83. The company has a market cap of $13.55 billion, a PE ratio of 35.60, a P/E/G ratio of 2.78 and a beta of 1.25.

Kimco Realty (NYSE:KIM - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS 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%. On average, equities analysts expect that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Friday, March 7th. Kimco Realty's dividend payout ratio (DPR) is 178.57%.

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.