State of Michigan Retirement System Has $4.29 Million Position in Kimco Realty Corp (NYSE:KIM)

State of Michigan Retirement System lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 182,933 shares of the real estate investment trust’s stock after selling 700 shares during the period. State of Michigan Retirement System’s holdings in Kimco Realty were worth $4,286,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. State Street Corp raised its position in shares of Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock valued at $1,048,797,000 after buying an additional 882,047 shares during the last quarter. FMR LLC raised its position in shares of Kimco Realty by 6.1% during the third quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after buying an additional 1,283,352 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Kimco Realty by 0.3% during the third quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock valued at $398,468,000 after buying an additional 53,378 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Kimco Realty by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock worth $220,131,000 after purchasing an additional 405,685 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Kimco Realty by 842.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock worth $145,420,000 after purchasing an additional 5,598,091 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Price Performance

KIM opened at $21.40 on Friday. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The company’s 50 day simple moving average is $22.23 and its 200-day simple moving average is $23.35. The stock has a market capitalization of $14.54 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 2.78 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results 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%. Sell-side analysts anticipate that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.67%. Kimco Realty’s dividend payout ratio (DPR) is currently 178.57%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their price target on shares of Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Evercore ISI dropped their price target on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. UBS Group increased their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Robert W. Baird increased their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.43.

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.