Aberdeen Group plc lifted its stake in Kimco Realty Corporation (NYSE:KIM – Free Report) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 729,363 shares of the real estate investment trust’s stock after purchasing an additional 46,406 shares during the quarter. Aberdeen Group plc owned about 0.11% of Kimco Realty worth $15,123,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Kimco Realty by 14.7% during the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust’s stock worth $423,441,000 after acquiring an additional 2,552,276 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Kimco Realty by 2.8% during the 1st quarter. Northern Trust Corp now owns 10,590,796 shares of the real estate investment trust’s stock worth $224,949,000 after acquiring an additional 285,824 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Kimco Realty by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,718,796 shares of the real estate investment trust’s stock worth $206,427,000 after acquiring an additional 137,249 shares during the last quarter. Amundi lifted its stake in shares of Kimco Realty by 54.2% during the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust’s stock worth $186,646,000 after acquiring an additional 3,253,031 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its stake in shares of Kimco Realty by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust’s stock worth $191,170,000 after acquiring an additional 733,514 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.
Insider Buying and Selling at Kimco Realty
In related news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $21.66, for a total transaction of $500,346.00. Following the completion of the sale, the director directly owned 40,260 shares in the company, valued at $872,031.60. This represents a 36.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.20% of the stock is owned by company insiders.
Kimco Realty Trading Up 1.6%
Kimco Realty (NYSE:KIM – Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $525.18 million during the quarter, compared to analysts’ expectations of $524.75 million. Kimco Realty had a return on equity of 5.58% and a net margin of 28.54%.The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Equities research analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.
Kimco Realty Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Friday, September 5th. Kimco Realty’s dividend payout ratio is 120.48%.
Analysts Set New Price Targets
KIM has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH initiated coverage on Kimco Realty in a research note on Tuesday, September 9th. They set a “buy” rating and a $27.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kimco Realty in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 8th. Mizuho lifted their target price on Kimco Realty from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Finally, Piper Sandler decreased their target price on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.92.
View Our Latest Stock Analysis on KIM
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.
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