The Manufacturers Life Insurance Company Raises Position in Kimco Realty Corporation $KIM

The Manufacturers Life Insurance Company grew its holdings in Kimco Realty Corporation (NYSE:KIM) by 28.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 548,859 shares of the real estate investment trust’s stock after acquiring an additional 121,294 shares during the period. The Manufacturers Life Insurance Company’s holdings in Kimco Realty were worth $12,333,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Zions Bancorporation National Association UT raised its stake in shares of Kimco Realty by 270.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,049 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in Kimco Realty by 127.3% during the 4th quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 840 shares in the last quarter. Root Financial Partners LLC grew its position in shares of Kimco Realty by 60.7% during the first quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 546 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in Kimco Realty during the 2nd quarter worth approximately $37,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Kimco Realty during the second quarter worth $42,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

NYSE KIM opened at $25.48 on Monday. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.80 and a beta of 0.95. The business’s 50 day moving average is $25.14 and its two-hundred day moving average is $23.56. Kimco Realty Corporation has a 12-month low of $19.76 and a 12-month high of $26.65. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $558.02 million during the quarter, compared to analysts’ expectations of $542.73 million. Kimco Realty had a return on equity of 5.82% and a net margin of 28.54%.The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. Research analysts expect that Kimco Realty Corporation will post 1.83 EPS for the current year.

Analysts Set New Price Targets

KIM has been the subject of a number of research analyst reports. Scotiabank increased their price target on shares of Kimco Realty from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 19th. Wolfe Research raised shares of Kimco Realty from a “peer perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a research report on Monday, June 22nd. Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research note on Sunday, April 26th. Wells Fargo & Company lifted their price objective on shares of Kimco Realty from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Evercore set a $25.00 price objective on shares of Kimco Realty in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.12.

Kimco Realty 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.