Charles Schwab Investment Management Inc. Purchases 405,685 Shares of Kimco Realty Corp (NYSE:KIM)

Charles Schwab Investment Management Inc. raised its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 4.5% during the third quarter, HoldingsChannel.com reports. The firm owned 9,480,254 shares of the real estate investment trust’s stock after acquiring an additional 405,685 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Kimco Realty were worth $220,131,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KIM. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kimco Realty by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,761,309 shares of the real estate investment trust’s stock valued at $73,195,000 after acquiring an additional 103,861 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Kimco Realty by 30.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,846,943 shares of the real estate investment trust’s stock valued at $114,659,000 after purchasing an additional 1,381,490 shares in the last quarter. Invst LLC bought a new stake in shares of Kimco Realty in the 1st quarter valued at $682,000. Victory Capital Management Inc. raised its stake in Kimco Realty by 48.8% during the 3rd quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock worth $19,422,000 after buying an additional 274,295 shares during the period. Finally, Sei Investments Co. lifted its holdings in Kimco Realty by 71.5% during the second quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock worth $54,345,000 after acquiring an additional 1,164,029 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Analysts Set New Price Targets

KIM has been the topic of a number of research analyst reports. Evercore ISI raised their price target on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank lifted their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Friday, August 16th. Argus raised shares of Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Compass Point increased their target price on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.14.

Kimco Realty Price Performance

Shares of KIM opened at $25.37 on Friday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $23.93 and its 200 day simple moving average is $21.75. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.46. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 3.32 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, research analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.25 per share. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty’s payout ratio is currently 174.55%.

Kimco Realty Company 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.