Norges Bank Takes Position in Kimco Realty Corp (NYSE:KIM)

Norges Bank purchased a new stake in shares of Kimco Realty Corp (NYSE:KIM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,511,565 shares of the real estate investment trust's stock, valued at approximately $363,436,000. Norges Bank owned about 2.30% of Kimco Realty as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in Kimco Realty during the third quarter worth $31,000. Brooklyn Investment Group bought a new stake in shares of Kimco Realty in the 3rd quarter worth $37,000. Quarry LP purchased a new stake in shares of Kimco Realty in the third quarter valued at about $51,000. Catalyst Capital Advisors LLC lifted its position 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 in the last quarter. Finally, CoreFirst Bank & Trust purchased a new position in Kimco Realty during the fourth quarter worth about $76,000. 89.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KIM has been the subject of several analyst reports. Evercore ISI decreased their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an "in-line" rating for the company in a research note on Tuesday, December 24th. Mizuho decreased their price target on Kimco Realty from $26.00 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Kimco Realty from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Jefferies Financial Group lowered 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 report on Thursday, January 2nd. Finally, Scotiabank dropped their price target on 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. Ten research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $24.43.

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Kimco Realty Price Performance

KIM stock traded down $1.16 during mid-day trading on Thursday, reaching $20.29. 1,980,905 shares of the company traded hands, compared to its average volume of 4,231,251. The company has a fifty day moving average price of $21.69 and a 200-day moving average price of $23.07. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83. The company has a market capitalization of $13.79 billion, a P/E ratio of 36.23, a P/E/G ratio of 2.78 and a beta of 1.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59.

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

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.93%. Kimco Realty's payout ratio is currently 178.57%.

Kimco Realty 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.