Mitsubishi UFJ Asset Management Co. Ltd. Acquires 143,768 Shares of Kimco Realty Corporation $KIM

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Kimco Realty Corporation (NYSE:KIM) by 8.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,768,920 shares of the real estate investment trust’s stock after acquiring an additional 143,768 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.26% of Kimco Realty worth $37,183,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Trust Co. of Toledo NA OH acquired a new stake in Kimco Realty in the second quarter valued at $27,000. AlphaQuest LLC acquired a new stake in shares of Kimco Realty in the first quarter valued at about $29,000. Keystone Global Partners LLC acquired a new stake in shares of Kimco Realty in the first quarter valued at about $30,000. GKV Capital Management Co. Inc. bought a new position in shares of Kimco Realty during the first quarter worth about $38,000. Finally, ST Germain D J Co. Inc. lifted its stake in shares of Kimco Realty by 160.7% in the second quarter. ST Germain D J Co. Inc. now owns 1,955 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,205 shares during the period. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Down 0.8%

Shares of NYSE KIM opened at $20.37 on Tuesday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. The firm has a market cap of $13.79 billion, a PE ratio of 24.54, a P/E/G ratio of 1.56 and a beta of 1.28. The company’s fifty day simple moving average is $21.67 and its 200 day simple moving average is $21.40. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $25.83.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $535.86 million for the quarter, compared to analyst estimates of $522.31 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. As a group, sell-side analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.26 per share. This is an increase from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.04 dividend on an annualized basis and a yield of 5.1%. Kimco Realty’s dividend payout ratio (DPR) is currently 125.30%.

Insider Transactions at Kimco Realty

In other Kimco Realty news, Director Mary Hogan Preusse sold 23,100 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the sale, the director owned 40,260 shares of the company’s stock, valued at approximately $872,031.60. This trade represents a 36.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on KIM shares. Wall Street Zen lowered shares of Kimco Realty from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kimco Realty in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH assumed coverage on shares of Kimco Realty in a research report on Tuesday, September 9th. They set a “buy” rating and a $27.00 price target on the stock. Piper Sandler decreased their price target on Kimco Realty from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, Barclays boosted their price objective on Kimco Realty from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty has an average rating of “Hold” and an average target price of $24.50.

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.