Public Sector Pension Investment Board Purchases 14,589 Shares of Kimco Realty Corp (NYSE:KIM)

Public Sector Pension Investment Board increased its position in Kimco Realty Corp (NYSE:KIM) by 18.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,559 shares of the real estate investment trust’s stock after acquiring an additional 14,589 shares during the period. Public Sector Pension Investment Board’s holdings in Kimco Realty were worth $1,801,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of KIM. Canada Pension Plan Investment Board bought a new stake in Kimco Realty during the first quarter valued at about $200,043,000. Vanguard Group Inc. boosted its stake in shares of Kimco Realty by 7.7% in the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after acquiring an additional 7,931,013 shares during the period. Centersquare Investment Management LLC boosted 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 during the period. Cohen & Steers Inc. boosted its stake in shares of Kimco Realty by 7.3% in the fourth quarter. Cohen & Steers Inc. now owns 44,190,222 shares of the real estate investment trust’s stock worth $941,817,000 after acquiring an additional 3,022,995 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Kimco Realty by 3,711.4% in the first quarter. Janus Henderson Group PLC now owns 2,828,917 shares of the real estate investment trust’s stock worth $55,462,000 after acquiring an additional 2,754,695 shares during the period. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Up 1.1 %

KIM opened at $23.22 on Tuesday. The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 43.81, a P/E/G ratio of 4.03 and a beta of 1.51. The stock’s 50 day moving average price is $22.61 and its 200-day moving average price is $20.28. Kimco Realty Corp has a one year low of $16.34 and a one year high of $24.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.73 and a current ratio of 1.73.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.23). Kimco Realty had a return on equity of 3.59% and a net margin of 19.28%. The firm had revenue of $500.20 million during the quarter, compared to the consensus estimate of $500.87 million. During the same period last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities analysts forecast that Kimco Realty Corp will post 1.62 EPS for the current year.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.13%. Kimco Realty’s dividend payout ratio is presently 181.13%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KIM. Mizuho lowered Kimco Realty from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $20.00 to $23.00 in a research note on Monday, August 19th. Evercore ISI boosted their target price on Kimco Realty from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Argus upgraded Kimco Realty to a “strong-buy” rating in a research report on Friday, September 6th. Truist Financial boosted their target price on Kimco Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $29.00 target price (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.55.

Insider Activity

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

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.