Pensionfund PDN Acquires Shares of 35,731 Kimco Realty Corporation $KIM

Pensionfund PDN acquired a new stake in shares of Kimco Realty Corporation (NYSE:KIM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,731 shares of the real estate investment trust’s stock, valued at approximately $724,000.

Several other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Kimco Realty during the second quarter valued at approximately $175,963,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Kimco Realty by 541.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust’s stock worth $137,756,000 after acquiring an additional 5,322,009 shares during the last quarter. SG Americas Securities LLC increased its stake in Kimco Realty by 10,776.5% in the 4th quarter. SG Americas Securities LLC now owns 2,425,889 shares of the real estate investment trust’s stock worth $49,173,000 after acquiring an additional 2,403,585 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Kimco Realty by 27.2% during the 3rd quarter. Federated Hermes Inc. now owns 10,649,864 shares of the real estate investment trust’s stock worth $232,700,000 after acquiring an additional 2,280,090 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Kimco Realty by 113.0% during the 3rd quarter. Barclays PLC now owns 3,185,904 shares of the real estate investment trust’s stock valued at $69,612,000 after acquiring an additional 1,690,137 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company a “hold” rating in a report on Monday. Citigroup decreased their price target on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Robert W. Baird set a $25.00 price objective on shares of Kimco Realty in a research report on Friday, February 13th. Piper Sandler lifted their price objective on shares of Kimco Realty from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 17th. Finally, Mizuho set a $21.00 target price on shares of Kimco Realty in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.57.

Kimco Realty Stock Up 1.6%

Shares of KIM opened at $22.70 on Tuesday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $22.22 and a 200 day moving average of $21.42. The company has a market cap of $15.30 billion, a PE ratio of 28.03, a P/E/G ratio of 1.25 and a beta of 1.04. Kimco Realty Corporation has a 52-week low of $17.93 and a 52-week high of $23.91.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, March 6th. Kimco Realty’s dividend payout ratio (DPR) is 128.40%.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.