Federated Hermes Inc. Increases Stake in Kimco Realty Corp (NYSE:KIM)

Federated Hermes Inc. raised its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 90.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,278,480 shares of the real estate investment trust’s stock after acquiring an additional 3,457,435 shares during the quarter. Federated Hermes Inc. owned approximately 1.08% of Kimco Realty worth $170,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock valued at $1,048,797,000 after purchasing an additional 882,047 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kimco Realty by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 17,592,283 shares of the real estate investment trust’s stock valued at $411,179,000 after buying an additional 377,074 shares in the last quarter. Norges Bank bought a new position in shares of Kimco Realty during the 4th quarter valued at approximately $363,436,000. Charles Schwab Investment Management Inc. increased its holdings in Kimco Realty by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,581,547 shares of the real estate investment trust’s stock worth $224,496,000 after acquiring an additional 101,293 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Kimco Realty by 5.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,949,070 shares of the real estate investment trust’s stock worth $186,247,000 after acquiring an additional 414,155 shares during the period. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

Shares of NYSE:KIM opened at $19.33 on Friday. The firm has a fifty day simple moving average of $21.57 and a two-hundred day simple moving average of $23.01. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $13.14 billion, a P/E ratio of 34.52, a PEG ratio of 2.78 and a beta of 1.25.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. On average, analysts expect that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.25 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 5.17%. Kimco Realty’s dividend payout ratio is presently 178.57%.

Analyst Ratings Changes

A number of research firms have weighed in on KIM. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $25.00 in a research report on Thursday, January 2nd. Mizuho cut their price target on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Wells Fargo & Company lowered their price objective on Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Evercore ISI cut their target price on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Finally, JPMorgan Chase & Co. lowered their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.75.

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.