KLP Kapitalforvaltning AS Purchases New Stake in Kimco Realty Corp (NYSE:KIM)

KLP Kapitalforvaltning AS purchased a new stake in Kimco Realty Corp (NYSE:KIM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 602,200 shares of the real estate investment trust’s stock, valued at approximately $14,110,000. KLP Kapitalforvaltning AS owned approximately 0.09% of Kimco Realty at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KIM. Wilmington Savings Fund Society FSB acquired a new stake in Kimco Realty in the third quarter valued at $31,000. Brooklyn Investment Group acquired a new stake in Kimco Realty in the third quarter valued at $37,000. Quarry LP acquired a new stake in Kimco Realty in the third quarter valued at $51,000. Catalyst Capital Advisors LLC raised its holdings in Kimco Realty by 102.9% in the fourth quarter. Catalyst Capital Advisors LLC now owns 2,177 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 1,104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Kimco Realty during the fourth quarter worth $77,000. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Stock Performance

Shares of KIM opened at $20.78 on Monday. The firm has a 50-day moving average price of $21.86 and a 200 day moving average price of $23.19. The firm has a market capitalization of $14.12 billion, a PE ratio of 37.10, a P/E/G ratio of 2.78 and a beta of 1.53. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83.

Kimco Realty (NYSE:KIM) last announced its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. On average, 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 announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.25 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.81%. Kimco Realty’s dividend payout ratio is presently 178.57%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Jefferies Financial Group cut shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their target price for the stock from $28.00 to $25.00 in a report on Thursday, January 2nd. Evercore ISI dropped their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Citigroup dropped their target price on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. JPMorgan Chase & Co. dropped their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Scotiabank dropped their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Ten analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

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.