Readystate Asset Management LP Makes New Investment in Kimco Realty Corporation $KIM

Readystate Asset Management LP bought a new stake in shares of Kimco Realty Corporation (NYSE:KIM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,320 shares of the real estate investment trust’s stock, valued at approximately $591,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KIM. Legal & General Group Plc grew its stake in shares of Kimco Realty by 7.5% in the 4th quarter. Legal & General Group Plc now owns 6,323,989 shares of the real estate investment trust’s stock worth $128,187,000 after buying an additional 443,046 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Kimco Realty by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust’s stock valued at $386,617,000 after buying an additional 223,936 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Kimco Realty by 144.4% during the 1st quarter. Cetera Investment Advisers now owns 197,693 shares of the real estate investment trust’s stock valued at $4,442,000 after buying an additional 116,811 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Kimco Realty by 9.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 539,577 shares of the real estate investment trust’s stock valued at $10,937,000 after buying an additional 48,672 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Kimco Realty by 566.3% in the 1st quarter. Strs Ohio now owns 722,282 shares of the real estate investment trust’s stock valued at $16,230,000 after acquiring an additional 613,876 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KIM has been the subject of several recent research reports. Citigroup lifted their price target on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Piper Sandler raised their price objective on Kimco Realty from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Kimco Realty in a report on Friday, July 31st. Jefferies Financial Group raised Kimco Realty to a “hold” rating in a research report on Friday, June 26th. Finally, UBS Group increased their price target on Kimco Realty from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Kimco Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.56.

Kimco Realty Stock Performance

Kimco Realty stock opened at $23.60 on Tuesday. The company has a 50 day moving average price of $24.85 and a 200-day moving average price of $24.08. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.23 and a current ratio of 5.23. Kimco Realty Corporation has a fifty-two week low of $19.76 and a fifty-two week high of $26.65. The company has a market capitalization of $15.83 billion, a PE ratio of 27.77, a P/E/G ratio of 2.71 and a beta of 0.93.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.26. Kimco Realty had a return on equity of 5.76% and a net margin of 27.76%.The company had revenue of $550.80 million for the quarter, compared to analysts’ expectations of $543.75 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Kimco Realty’s revenue was up 4.9% compared to the same quarter last year. Kimco Realty has set its FY 2026 guidance at 1.830-1.840 EPS. As a group, equities analysts forecast that Kimco Realty Corporation will post 1.84 earnings per share for the current year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, September 4th will be issued a $0.28 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.12 annualized dividend and a dividend yield of 4.7%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.26. Kimco Realty’s dividend payout ratio (DPR) is currently 131.76%.

About Kimco Realty

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.