Massachusetts Financial Services Co. MA Cuts Holdings in Kimco Realty Corporation $KIM

Massachusetts Financial Services Co. MA lowered its stake in shares of Kimco Realty Corporation (NYSE:KIM) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,399,020 shares of the real estate investment trust’s stock after selling 694,582 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.94% of Kimco Realty worth $139,819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KIM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Kimco Realty by 59.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,247 shares of the real estate investment trust’s stock valued at $2,351,000 after purchasing an additional 41,265 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kimco Realty by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 639,985 shares of the real estate investment trust’s stock valued at $13,593,000 after buying an additional 38,554 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Kimco Realty in the 1st quarter worth approximately $61,000. Parallel Advisors LLC boosted its stake in Kimco Realty by 47.8% in the second quarter. Parallel Advisors LLC now owns 4,656 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 1,505 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Kimco Realty by 14.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 59,512 shares of the real estate investment trust’s stock valued at $1,287,000 after acquiring an additional 7,470 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

KIM stock opened at $20.96 on Wednesday. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.47 and a beta of 1.05. The firm’s 50-day moving average price is $20.37 and its two-hundred day moving average price is $21.18. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.77. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $23.65.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $535.86 million for the quarter, compared to analysts’ expectations of $522.31 million. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.Kimco Realty’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. As a group, equities analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.26 per share. This is a boost from Kimco Realty’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Friday, December 5th. Kimco Realty’s dividend payout ratio is currently 125.30%.

Wall Street Analyst Weigh In

Several research firms have commented on KIM. UBS Group decreased their price target on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Wells Fargo & Company decreased their target price on shares of Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, December 15th. Mizuho set a $21.00 price target on shares of Kimco Realty in a research note on Friday, January 9th. Scotiabank reduced their price objective on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kimco Realty in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.89.

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.