FIL Ltd Buys 42,276 Shares of Kimco Realty Corp (NYSE:KIM)

FIL Ltd raised its stake in shares of Kimco Realty Corp (NYSE:KIM) by 1,241.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,681 shares of the real estate investment trust’s stock after buying an additional 42,276 shares during the period. FIL Ltd’s holdings in Kimco Realty were worth $1,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Kimco Realty in the fourth quarter valued at about $363,436,000. Federated Hermes Inc. lifted its stake in shares of Kimco Realty by 90.5% in the 4th quarter. Federated Hermes Inc. now owns 7,278,480 shares of the real estate investment trust’s stock worth $170,535,000 after purchasing an additional 3,457,435 shares during the period. Invesco Ltd. boosted its holdings in shares of Kimco Realty by 18.3% in the fourth quarter. Invesco Ltd. now owns 17,383,750 shares of the real estate investment trust’s stock worth $407,301,000 after buying an additional 2,692,258 shares during the last quarter. Amundi boosted its holdings in shares of Kimco Realty by 70.7% in the fourth quarter. Amundi now owns 5,999,390 shares of the real estate investment trust’s stock worth $132,227,000 after buying an additional 2,484,536 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Kimco Realty by 348.9% during the fourth quarter. Schroder Investment Management Group now owns 3,114,647 shares of the real estate investment trust’s stock valued at $72,353,000 after buying an additional 2,420,884 shares during the period. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Up 1.7 %

KIM opened at $20.11 on Monday. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The firm has a 50-day simple moving average of $21.14 and a two-hundred day simple moving average of $22.83. The company has a market capitalization of $13.66 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Analysts forecast that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 7th. This represents a $1.00 annualized dividend and a yield of 4.97%. Kimco Realty’s dividend payout ratio (DPR) is currently 178.57%.

Analyst Ratings Changes

KIM has been the topic of several analyst reports. Citigroup dropped their price target on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. JPMorgan Chase & Co. cut their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Evercore ISI decreased their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Wells Fargo & Company reduced their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, Mizuho lowered their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.75.

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.