Kimco Realty Corp (NYSE:KIM) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Kimco Realty Corp (NYSE:KIM) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,801 shares of the real estate investment trust’s stock after buying an additional 7,311 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kimco Realty were worth $3,655,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KIM. Canada Pension Plan Investment Board purchased a new stake in shares of Kimco Realty in the 1st quarter valued at $200,043,000. Vanguard Group Inc. increased its stake in Kimco Realty by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after buying an additional 7,931,013 shares during the period. Norges Bank acquired a new stake in Kimco Realty during the 4th quarter worth approximately $150,326,000. Centersquare Investment Management LLC grew its stake in shares of Kimco Realty by 76.8% in the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after acquiring an additional 6,282,891 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Kimco Realty during the fourth quarter worth $84,678,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on KIM. JPMorgan Chase & Co. lifted their target price on Kimco Realty from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price objective on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a report on Friday, August 16th. Scotiabank lifted their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Mizuho downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $23.00 in a research report on Monday, August 19th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.21.

Insider Buying and Selling at Kimco Realty

In other news, COO David Jamieson sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,096,000.00. Following the completion of the sale, the chief operating officer now owns 337,111 shares in the company, valued at $7,389,473.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company’s stock.

Kimco Realty Stock Up 1.1 %

Kimco Realty stock opened at $23.26 on Friday. The stock has a 50-day simple moving average of $21.19 and a 200-day simple moving average of $19.74. The company has a market capitalization of $15.68 billion, a P/E ratio of 43.89, a PEG ratio of 4.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.73. Kimco Realty Corp has a fifty-two week low of $16.34 and a fifty-two week high of $23.53.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). The firm had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $500.87 million. Kimco Realty had a net margin of 19.28% and a return on equity of 3.59%. Kimco Realty’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. Equities research analysts expect that Kimco Realty Corp will post 1.6 earnings per share for the current year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.13%. Kimco Realty’s payout ratio is 181.13%.

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.