M&T Bank Corp Acquires 773,780 Shares of Kimco Realty Corporation $KIM

M&T Bank Corp boosted its holdings in Kimco Realty Corporation (NYSE:KIM) by 4,368.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 791,494 shares of the real estate investment trust’s stock after acquiring an additional 773,780 shares during the period. M&T Bank Corp’s holdings in Kimco Realty were worth $16,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in Kimco Realty by 2.2% in the 3rd quarter. State Street Corp now owns 47,382,410 shares of the real estate investment trust’s stock valued at $1,035,306,000 after acquiring an additional 1,034,573 shares during the period. Daiwa Securities Group Inc. raised its holdings in Kimco Realty by 0.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,195,113 shares of the real estate investment trust’s stock valued at $266,463,000 after acquiring an additional 63,054 shares during the period. Centersquare Investment Management LLC raised its holdings in Kimco Realty by 1.6% in the 3rd quarter. Centersquare Investment Management LLC now owns 11,935,173 shares of the real estate investment trust’s stock valued at $260,784,000 after acquiring an additional 188,261 shares during the period. Federated Hermes Inc. raised its holdings in Kimco Realty by 27.2% in the 3rd quarter. Federated Hermes Inc. now owns 10,649,864 shares of the real estate investment trust’s stock valued at $232,700,000 after acquiring an additional 2,280,090 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Kimco Realty by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,075,563 shares of the real estate investment trust’s stock valued at $220,147,000 after acquiring an additional 51,079 shares during the period. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Up 1.2%

NYSE KIM opened at $23.85 on Friday. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.78. Kimco Realty Corporation has a 1-year low of $19.59 and a 1-year high of $24.31. The company has a 50 day moving average of $23.07 and a 200-day moving average of $21.59. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.32 and a beta of 1.03.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, March 6th. Kimco Realty’s payout ratio is presently 128.40%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KIM shares. Barclays reissued an “overweight” rating and issued a $25.00 price target on shares of Kimco Realty in a report on Tuesday, January 13th. JPMorgan Chase & Co. increased their price objective on Kimco Realty from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Scotiabank increased their price objective on Kimco Realty from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 24th. Weiss Ratings cut Kimco Realty from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Wall Street Zen cut Kimco Realty from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.73.

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.