Public Sector Pension Investment Board Buys 24,714 Shares of Kimco Realty Corp (NYSE:KIM)

Public Sector Pension Investment Board increased its position in shares of Kimco Realty Corp (NYSE:KIM - Free Report) by 26.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,273 shares of the real estate investment trust's stock after buying an additional 24,714 shares during the quarter. Public Sector Pension Investment Board's holdings in Kimco Realty were worth $2,723,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in Kimco Realty by 18.1% in the 1st quarter. Tidal Investments LLC now owns 21,304 shares of the real estate investment trust's stock valued at $418,000 after acquiring an additional 3,269 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Kimco Realty by 52.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,243 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 773 shares in the last quarter. Mather Group LLC. boosted its position in shares of Kimco Realty by 66.1% during the second quarter. Mather Group LLC. now owns 6,399 shares of the real estate investment trust's stock valued at $125,000 after buying an additional 2,546 shares during the last quarter. CWM LLC grew its holdings in Kimco Realty by 13.1% during the second quarter. CWM LLC now owns 12,728 shares of the real estate investment trust's stock worth $248,000 after buying an additional 1,473 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Kimco Realty by 8.7% in the 2nd quarter. SG Americas Securities LLC now owns 229,684 shares of the real estate investment trust's stock valued at $4,470,000 after buying an additional 18,306 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KIM shares. Robert W. Baird upped their target price on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. Scotiabank boosted their target price on Kimco Realty from $23.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Monday, November 25th. Mizuho cut Kimco Realty from an "outperform" rating to a "neutral" rating and boosted their price objective for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Raymond James raised Kimco Realty from a "market perform" rating to a "strong-buy" rating and set a $25.00 target price for the company in a research report on Friday, August 16th. Finally, Wells Fargo & Company boosted their price target on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Kimco Realty currently has an average rating of "Moderate Buy" and a consensus price target of $24.50.

Kimco Realty Price Performance

NYSE KIM traded up $0.06 during trading hours on Thursday, hitting $25.12. The company had a trading volume of 4,036,156 shares, compared to its average volume of 4,538,042. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 45.66, a PEG ratio of 3.30 and a beta of 1.50. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83. The firm has a 50 day simple moving average of $24.29 and a 200 day simple moving average of $22.15.

Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). The business had revenue of $507.63 million during the quarter, compared to analysts' expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The business's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. Equities research analysts expect that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.00 annualized dividend and a yield of 3.98%. This is a positive change from Kimco Realty's previous quarterly dividend of $0.24. Kimco Realty's payout ratio is 174.55%.

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.