Kimco Realty Corporation $KIM Stock: Candriam S.C.A. Grows Holdings

Candriam S.C.A. raised its position in shares of Kimco Realty Corporation (NYSE:KIM) by 33.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 721,866 shares of the real estate investment trust’s stock after purchasing an additional 180,443 shares during the quarter. Candriam S.C.A.’s holdings in Kimco Realty were worth $16,091,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Kimco Realty during the 2nd quarter valued at $1,895,765,000. Bank of America Corp DE bought a new stake in shares of Kimco Realty in the 2nd quarter worth $235,111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Kimco Realty by 7,715.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,304,565 shares of the real estate investment trust’s stock worth $159,821,000 after buying an additional 6,223,902 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Kimco Realty in the second quarter valued at $156,283,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Kimco Realty in the second quarter valued at $152,113,000. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Performance

Shares of NYSE KIM opened at $25.79 on Tuesday. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $17.14 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 2.94 and a beta of 0.91. The stock’s fifty day simple moving average is $23.24 and its 200 day simple moving average is $23.64. Kimco Realty Corporation has a 52-week low of $19.76 and a 52-week high of $26.65.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Kimco Realty had a return on equity of 7.16% and a net margin of 34.06%. The company had revenue of $546.15 million for the quarter, compared to analyst estimates of $549.06 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Kimco Realty’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Kimco Realty Corporation will post 1.85 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.12 dividend on an annualized basis and a yield of 4.3%. Kimco Realty’s dividend payout ratio (DPR) is currently 104.67%.

Analysts Set New Price Targets

Several brokerages recently weighed in on KIM. Wells Fargo & Company decreased their target price on Kimco Realty from $26.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, October 23rd. Morgan Stanley boosted their price target on shares of Kimco Realty from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 29th. Citigroup boosted their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Truist Financial initiated coverage on shares of Kimco Realty in a report on Thursday, October 1st. They issued a “hold” rating and a $24.00 price target for the company. Finally, Weiss Ratings lowered shares of Kimco Realty from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.88.

Kimco Realty Profile

Kimco Realty Corporation is a real estate investment trust that owns and operates open-air shopping centers, with a focus on grocery-anchored properties and mixed-use developments. Its properties bring together grocery stores, retailers, restaurants and service businesses.

Founded in 1958, Kimco has grown into a major U.S. retail real estate owner. Its portfolio serves communities across the United States, including markets in which its centers provide everyday shopping and services.

Kimco is headquartered in Jericho, New York.