California State Teachers Retirement System Reduces Stock Position in Kimco Realty Corporation $KIM

California State Teachers Retirement System lowered its holdings in shares of Kimco Realty Corporation (NYSE:KIMFree Report) by 2.3% in the first quarter, Holdings Channel.com reports. The fund owned 1,075,786 shares of the real estate investment trust’s stock after selling 24,922 shares during the quarter. California State Teachers Retirement System’s holdings in Kimco Realty were worth $24,173,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Kimco Realty by 2.2% during the third quarter. State Street Corp now owns 47,382,410 shares of the real estate investment trust’s stock worth $1,035,306,000 after purchasing an additional 1,034,573 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Kimco Realty by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust’s stock worth $386,617,000 after purchasing an additional 223,936 shares during the last quarter. Invesco Ltd. increased its stake in 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 worth $344,933,000 after buying an additional 4,399,959 shares during the period. Centersquare Investment Management LLC increased its stake in Kimco Realty by 8.1% in the 4th quarter. Centersquare Investment Management LLC now owns 12,905,449 shares of the real estate investment trust’s stock worth $261,593,000 after buying an additional 970,276 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Kimco Realty by 0.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,195,113 shares of the real estate investment trust’s stock valued at $266,463,000 after buying an additional 63,054 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Analyst Ratings Changes

KIM has been the subject of several research reports. UBS Group boosted their price objective on shares of Kimco Realty from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Piper Sandler raised their target price on shares of Kimco Realty from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Stifel Nicolaus set a $28.00 price target on shares of Kimco Realty in a research note on Thursday, June 11th. Barclays boosted their price target on Kimco Realty from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $29.00 price objective on shares of Kimco Realty in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.12.

Read Our Latest Report on KIM

Kimco Realty Stock Performance

KIM stock opened at $25.48 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.78 and a quick ratio of 3.78. The business has a 50-day moving average price of $25.14 and a 200 day moving average price of $23.54. The company has a market capitalization of $17.18 billion, a P/E ratio of 29.62, a PEG ratio of 2.80 and a beta of 0.95. Kimco Realty Corporation has a 1-year low of $19.76 and a 1-year high of $26.65.

Kimco Realty (NYSE:KIMGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.82%. The company had revenue of $558.02 million during the quarter, compared to analyst estimates of $542.73 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Kimco Realty Corporation will post 1.83 EPS for the current fiscal year.

Kimco Realty Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Kimco Realty (NYSE:KIM)

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