Pinebridge Investments L.P. Has $44.02 Million Stake in Kimco Realty Corp (NYSE:KIM)

Pinebridge Investments L.P. boosted its position in Kimco Realty Corp (NYSE:KIM) by 7,712.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,878,591 shares of the real estate investment trust’s stock after purchasing an additional 1,854,546 shares during the period. Pinebridge Investments L.P.’s holdings in Kimco Realty were worth $44,015,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KIM. Asset Management One Co. Ltd. raised its holdings in Kimco Realty by 1.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,235,249 shares of the real estate investment trust’s stock valued at $28,868,000 after buying an additional 12,705 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Kimco Realty during the third quarter valued at $17,636,000. B&I Capital AG lifted its holdings in shares of Kimco Realty by 13.9% during the fourth quarter. B&I Capital AG now owns 509,830 shares of the real estate investment trust’s stock worth $11,945,000 after purchasing an additional 62,100 shares during the period. Nordea Investment Management AB grew its stake in shares of Kimco Realty by 6.9% in the fourth quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock worth $1,319,000 after purchasing an additional 3,614 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new stake in shares of Kimco Realty in the fourth quarter worth $610,000. 89.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on KIM shares. JPMorgan Chase & Co. cut their target price on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Citigroup reduced their target price on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Scotiabank reduced their price objective on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company decreased their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Finally, Evercore ISI dropped their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.75.

Kimco Realty Price Performance

Shares of NYSE KIM opened at $20.44 on Wednesday. The firm has a market capitalization of $13.89 billion, a P/E ratio of 36.50, a P/E/G ratio of 2.78 and a beta of 1.25. The firm’s 50-day moving average price is $20.86 and its 200-day moving average price is $22.70. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 1-year low of $17.93 and a 1-year high of $25.83.

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

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 178.57%.

Kimco Realty Company Profile

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.