Resona Asset Management Co. Ltd. acquired a new stake in shares of Kimco Realty Corp (NYSE:KIM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 372,277 shares of the real estate investment trust's stock, valued at approximately $8,706,000. Resona Asset Management Co. Ltd. owned approximately 0.06% of Kimco Realty at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Kimco Realty in the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Kimco Realty during the 3rd quarter worth $31,000. Brown Brothers Harriman & Co. raised its position in shares of Kimco Realty by 78.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 575 shares during the period. Headlands Technologies LLC bought a new position in shares of Kimco Realty during the 4th quarter valued at about $45,000. Finally, Quarry LP acquired a new position in shares of Kimco Realty in the 3rd quarter valued at approximately $51,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.
Kimco Realty Stock Performance
Shares of KIM traded up $0.34 during mid-day trading on Friday, reaching $20.11. The company's stock had a trading volume of 6,720,343 shares, compared to its average volume of 4,369,858. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.83. The business has a 50-day simple moving average of $21.14 and a two-hundred day simple moving average of $22.83. The stock has a market cap of $13.66 billion, a P/E ratio of 35.91, a PEG ratio of 2.78 and a beta of 1.25.
Kimco Realty (NYSE:KIM - Get Free Report) last released its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. As a group, equities research analysts anticipate that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.
Kimco Realty Dividend Announcement
The company 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 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Friday, March 7th. Kimco Realty's payout ratio is 178.57%.
Wall Street Analyst Weigh In
KIM has been the topic of a number of research reports. Scotiabank cut their price target on shares of 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. Jefferies Financial Group cut Kimco Realty from a "buy" rating to a "hold" rating and lowered their target price for the stock from $28.00 to $25.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on Kimco Realty from $25.00 to $24.00 and set a "neutral" rating on the stock in a 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. Finally, Mizuho reduced 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. Nine 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 currently has an average rating of "Moderate Buy" and an average price target of $24.75.
Read Our Latest Stock Analysis on KIM
Kimco Realty Company Profile
(
Free Report)
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.
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