KLP Kapitalforvaltning AS Makes New Investment in Kimco Realty Corp (NYSE:KIM)

KLP Kapitalforvaltning AS acquired a new stake in Kimco Realty Corp (NYSE:KIM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 602,200 shares of the real estate investment trust's stock, valued at approximately $14,110,000. KLP Kapitalforvaltning AS owned about 0.09% of Kimco Realty at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of KIM. Wilmington Savings Fund Society FSB purchased a new position in shares of Kimco Realty during the 3rd quarter worth $31,000. Brooklyn Investment Group purchased a new position in Kimco Realty during the third quarter worth about $37,000. Quarry LP purchased a new position in Kimco Realty during the third quarter worth about $51,000. Catalyst Capital Advisors LLC boosted its stake in Kimco Realty by 102.9% in the 4th quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust's stock worth $51,000 after buying an additional 1,104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Kimco Realty in the 4th quarter valued at about $77,000. Hedge funds and other institutional investors own 89.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KIM. Citigroup decreased their price target on shares of Kimco Realty from $27.00 to $21.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. JPMorgan Chase & Co. lowered 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 report on Tuesday, February 18th. Evercore ISI dropped their target price on Kimco Realty from $24.00 to $23.00 and set an "in-line" rating on the stock in a research report on Tuesday, December 24th. Jefferies Financial Group lowered shares of 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, Mizuho reduced their price objective on Kimco Realty from $26.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Ten investment 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.43.

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Kimco Realty Price Performance

Shares of KIM stock traded down $0.08 during midday trading on Friday, reaching $20.94. 2,520,349 shares of the company were exchanged, compared to its average volume of 4,252,876. The company's 50 day moving average price is $21.76 and its two-hundred day moving average price is $23.12. The company has a market cap of $14.23 billion, a P/E ratio of 37.38, a PEG ratio of 2.78 and a beta of 1.53. Kimco Realty Corp has a 12 month low of $17.57 and a 12 month 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.

Kimco Realty (NYSE:KIM - Get Free Report) last announced its 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 return on equity of 3.82% and a net margin of 20.17%. On average, sell-side analysts expect that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 annualized dividend and a yield of 4.78%. Kimco Realty's payout ratio is presently 178.57%.

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.