Sumitomo Mitsui Trust Group Inc. Buys 25,317 Shares of Kimco Realty Corp (NYSE:KIM)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Kimco Realty Corp (NYSE:KIM - Free Report) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,786,626 shares of the real estate investment trust's stock after buying an additional 25,317 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.56% of Kimco Realty worth $87,925,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its stake in Kimco Realty by 71.0% in the 1st quarter. ProShare Advisors LLC now owns 180,041 shares of the real estate investment trust's stock valued at $3,531,000 after buying an additional 74,729 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Kimco Realty by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 656,645 shares of the real estate investment trust's stock valued at $12,824,000 after buying an additional 6,589 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Kimco Realty by 22.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,223,153 shares of the real estate investment trust's stock valued at $23,986,000 after buying an additional 224,102 shares during the last quarter. Centersquare Investment Management LLC lifted its position in Kimco Realty by 76.8% in the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust's stock worth $269,531,000 after purchasing an additional 6,282,891 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Kimco Realty by 3.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 343,581 shares of the real estate investment trust's stock worth $6,736,000 after purchasing an additional 11,216 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Price Performance

Shares of NYSE:KIM traded up $0.17 on Friday, hitting $24.89. The company's stock had a trading volume of 3,141,807 shares, compared to its average volume of 4,577,456. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.19. The company has a market capitalization of $16.78 billion, a PE ratio of 45.25, a PEG ratio of 3.28 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The company has a 50-day simple moving average of $23.73 and a 200 day simple moving average of $21.49.

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

Kimco Realty Increases Dividend

The business 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 $0.25 dividend. This is a boost from Kimco Realty's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, December 5th. Kimco Realty's payout ratio is 174.55%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. Piper Sandler reiterated an "overweight" rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Mizuho lowered Kimco Realty from an "outperform" rating to a "neutral" rating and lifted their price objective for the stock from $20.00 to $23.00 in a research report on Monday, August 19th. Finally, Argus upgraded shares of Kimco Realty to a "strong-buy" rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.14.

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.