Mitsubishi UFJ Asset Management Co. Ltd. Acquires 143,768 Shares of Kimco Realty Corporation $KIM

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,768,920 shares of the real estate investment trust’s stock after buying an additional 143,768 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Kimco Realty were worth $37,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KIM. Trust Co. of Toledo NA OH bought a new position in Kimco Realty in the 2nd quarter valued at about $27,000. AlphaQuest LLC bought a new stake in Kimco Realty during the 1st quarter worth approximately $29,000. Keystone Global Partners LLC bought a new stake in Kimco Realty during the 1st quarter worth approximately $30,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Kimco Realty in the first quarter worth approximately $38,000. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Kimco Realty by 160.7% in the second quarter. ST Germain D J Co. Inc. now owns 1,955 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,205 shares in the last quarter. 89.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KIM shares. Piper Sandler decreased their price target on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Wall Street Zen downgraded shares of Kimco Realty from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Evercore ISI increased their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 8th. LADENBURG THALM/SH SH started coverage on shares of Kimco Realty in a research report on Tuesday, September 9th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Kimco Realty in a report on Tuesday, October 21st. They set an “equal weight” rating and a $23.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.50.

Kimco Realty Trading Down 0.8%

Shares of Kimco Realty stock opened at $20.37 on Tuesday. The firm has a market cap of $13.79 billion, a PE ratio of 24.54, a P/E/G ratio of 1.56 and a beta of 1.28. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. The stock has a fifty day moving average price of $21.67 and a 200-day moving average price of $21.40.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The company had revenue of $535.86 million during the quarter, compared to analyst estimates of $522.31 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Equities research analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.25. Kimco Realty’s dividend payout ratio (DPR) is 125.30%.

Insider Activity at Kimco Realty

In related news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $21.66, for a total value of $500,346.00. Following the transaction, the director owned 40,260 shares in the company, valued at approximately $872,031.60. This represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

About Kimco Realty

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.