Allstate Corp Boosts Stake in Kimco Realty Corporation $KIM

Allstate Corp increased its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 218.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,161 shares of the real estate investment trust’s stock after acquiring an additional 27,536 shares during the quarter. Allstate Corp’s holdings in Kimco Realty were worth $878,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KIM. Wealth Enhancement Advisory Services LLC lifted its stake in Kimco Realty by 7.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 63,924 shares of the real estate investment trust’s stock worth $1,366,000 after purchasing an additional 4,412 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Kimco Realty by 14.1% during the third quarter. Maryland State Retirement & Pension System now owns 35,143 shares of the real estate investment trust’s stock worth $768,000 after buying an additional 4,355 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Kimco Realty by 74.6% during the third quarter. Sequoia Financial Advisors LLC now owns 58,277 shares of the real estate investment trust’s stock worth $1,273,000 after buying an additional 24,904 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in Kimco Realty by 42.9% during the third quarter. Campbell & CO Investment Adviser LLC now owns 22,556 shares of the real estate investment trust’s stock worth $493,000 after buying an additional 6,775 shares during the last quarter. Finally, Gratus Wealth Advisors LLC grew its holdings in Kimco Realty by 3.9% in the 3rd quarter. Gratus Wealth Advisors LLC now owns 26,933 shares of the real estate investment trust’s stock valued at $588,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Down 0.2%

NYSE:KIM opened at $20.92 on Thursday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average is $20.37 and its two-hundred day moving average is $21.18. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $23.65. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $535.86 million during the quarter, compared to analysts’ expectations of $522.31 million. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Research analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.04 annualized dividend and a yield of 5.0%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.25. Kimco Realty’s dividend payout ratio is presently 125.30%.

Analysts Set New Price Targets

KIM has been the subject of a number of recent research reports. Wall Street Zen downgraded Kimco Realty from a “hold” rating to a “sell” rating in a research note on Sunday, December 28th. UBS Group cut their price objective on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Citigroup decreased their target price on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Argus reissued a “buy” rating and issued a $27.00 price target on shares of Kimco Realty in a research note on Monday, December 1st. Finally, Truist Financial cut their price target on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.89.

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.