Kimco Realty Corporation $KIM Stake Lessened by Wasatch Advisors LP

Wasatch Advisors LP cut its stake in Kimco Realty Corporation (NYSE:KIM) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,732 shares of the real estate investment trust’s stock after selling 26,000 shares during the period. Wasatch Advisors LP’s holdings in Kimco Realty were worth $4,151,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KIM. State Street Corp grew its holdings in Kimco Realty by 2.2% during the 3rd quarter. State Street Corp now owns 47,382,410 shares of the real estate investment trust’s stock worth $1,035,306,000 after acquiring an additional 1,034,573 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Kimco Realty by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust’s stock valued at $386,617,000 after purchasing an additional 223,936 shares in the last quarter. Invesco Ltd. raised its stake in shares of Kimco Realty by 34.9% in the 4th quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock valued at $344,933,000 after purchasing an additional 4,399,959 shares in the last quarter. Centersquare Investment Management LLC lifted its position in shares of Kimco Realty by 8.1% during the fourth quarter. Centersquare Investment Management LLC now owns 12,905,449 shares of the real estate investment trust’s stock worth $261,593,000 after purchasing an additional 970,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Kimco Realty by 0.5% during the third quarter. Daiwa Securities Group Inc. now owns 12,195,113 shares of the real estate investment trust’s stock worth $266,463,000 after purchasing an additional 63,054 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KIM has been the subject of several research analyst reports. Citigroup boosted their price objective on Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $28.00 target price on shares of Kimco Realty in a report on Tuesday. Truist Financial lifted their target price on Kimco Realty from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Stifel Nicolaus set a $28.00 price target on Kimco Realty in a report on Thursday, June 11th. Finally, Scotiabank upped their price target on Kimco Realty from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Kimco Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Kimco Realty Trading Up 0.8%

NYSE KIM opened at $24.15 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.23 and a current ratio of 5.23. Kimco Realty Corporation has a one year low of $19.76 and a one year high of $26.65. The company has a 50-day simple moving average of $25.21 and a 200-day simple moving average of $23.77. The firm has a market capitalization of $16.20 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 2.56 and a beta of 0.95.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.6%. This is a boost from Kimco Realty’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 4th. Kimco Realty’s dividend payout ratio is currently 131.76%.

Kimco Realty Profile

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.