VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Kimco Realty Corporation (NYSE:KIM – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,964,489 shares of the real estate investment trust’s stock, valued at approximately $49,800,000.
A number of other hedge funds have also recently bought and sold shares of KIM. Zions Bancorporation National Association UT increased its holdings in shares of Kimco Realty by 270.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,049 shares during the period. Root Financial Partners LLC lifted its stake in shares of Kimco Realty by 60.7% in the first quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 546 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Kimco Realty during the second quarter worth about $37,000. MUFG Securities EMEA plc bought a new position in Kimco Realty during the second quarter valued at about $42,000. Finally, Clearstead Advisors LLC increased its stake in Kimco Realty by 92.5% during the fourth quarter. Clearstead Advisors LLC now owns 2,426 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,166 shares during the period. 89.25% of the stock is owned by institutional investors.
Kimco Realty Price Performance
Shares of Kimco Realty stock opened at $23.60 on Monday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 2.71 and a beta of 0.93. Kimco Realty Corporation has a 1-year low of $19.76 and a 1-year high of $26.65. The firm’s 50-day moving average price is $24.90 and its two-hundred day moving average price is $24.08.
Kimco Realty Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Friday, September 4th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.12 dividend on an annualized basis and a yield of 4.7%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.26. Kimco Realty’s payout ratio is 131.76%.
Analyst Ratings Changes
Several equities analysts have commented on the company. Jefferies Financial Group raised Kimco Realty to a “hold” rating in a report on Friday, June 26th. JPMorgan Chase & Co. raised their target price on Kimco Realty from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. Piper Sandler boosted their price target on Kimco Realty from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Truist Financial upped their price target on Kimco Realty from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, May 28th. Finally, UBS Group increased their price objective on Kimco Realty from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One research 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 stock. According to MarketBeat, Kimco Realty has an average rating of “Moderate Buy” and a consensus price target of $26.56.
Read Our Latest Analysis on Kimco Realty
Kimco Realty Company 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.
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