Geode Capital Management LLC Buys 377,074 Shares of Kimco Realty Corp (NYSE:KIM)

Geode Capital Management LLC raised its stake in Kimco Realty Corp (NYSE:KIM) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,592,283 shares of the real estate investment trust’s stock after buying an additional 377,074 shares during the period. Geode Capital Management LLC owned about 2.61% of Kimco Realty worth $411,179,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. National Bank of Canada FI boosted its holdings in Kimco Realty by 12.8% in the fourth quarter. National Bank of Canada FI now owns 327,646 shares of the real estate investment trust’s stock valued at $7,677,000 after acquiring an additional 37,301 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Kimco Realty by 14.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 75,282 shares of the real estate investment trust’s stock valued at $1,764,000 after purchasing an additional 9,689 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Kimco Realty in the 4th quarter valued at $26,000. Schroder Investment Management Group increased its position in shares of 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 worth $72,353,000 after buying an additional 2,420,884 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in Kimco Realty by 78.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,304 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 575 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KIM. Jefferies Financial Group downgraded Kimco Realty from a “buy” rating to a “hold” rating and decreased their price target for the stock from $28.00 to $25.00 in a report on Thursday, January 2nd. Mizuho lowered their target price on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Citigroup cut their price target on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Wells Fargo & Company lowered their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. 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 research report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Kimco Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.43.

Kimco Realty Stock Performance

NYSE KIM opened at $19.33 on Friday. 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 has a fifty day moving average price of $21.57 and a 200-day moving average price of $23.02. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.83. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 2.78 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. As a group, equities research analysts predict that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Dividend Announcement

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 $0.25 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.00 annualized dividend and a yield of 5.17%. Kimco Realty’s dividend payout ratio is currently 178.57%.

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.