748,565 Shares in Kimco Realty Corporation $KIM Bought by Algebris UK Ltd.

Algebris UK Ltd. purchased a new stake in Kimco Realty Corporation (NYSE:KIM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 748,565 shares of the real estate investment trust’s stock, valued at approximately $16,344,000. Kimco Realty comprises approximately 1.9% of Algebris UK Ltd.’s investment portfolio, making the stock its 22nd biggest position. Algebris UK Ltd. owned 0.11% of Kimco Realty at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of KIM. PFG Investments LLC grew its holdings in Kimco Realty by 9.2% during the third quarter. PFG Investments LLC now owns 15,054 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 1,262 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Kimco Realty in the 3rd quarter worth approximately $1,821,000. Resona Asset Management Co. Ltd. grew its stake in shares of Kimco Realty by 5.4% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 402,569 shares of the real estate investment trust’s stock worth $8,741,000 after purchasing an additional 20,499 shares during the period. UniSuper Management Pty Ltd grew its stake in shares of Kimco Realty by 4.8% during the 3rd quarter. UniSuper Management Pty Ltd now owns 301,178 shares of the real estate investment trust’s stock worth $6,581,000 after purchasing an additional 13,911 shares during the period. Finally, iA Global Asset Management Inc. purchased a new position in shares of Kimco Realty during the 3rd quarter valued at approximately $1,100,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Up 1.0%

KIM stock opened at $20.98 on Monday. Kimco Realty Corporation has a 12-month low of $17.93 and a 12-month high of $23.65. The business’s 50-day moving average is $20.39 and its 200 day moving average is $21.17. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.77. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.14 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The business had revenue of $535.86 million for the quarter, compared to the consensus estimate of $522.31 million. During the same quarter last year, the business posted $0.43 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. On average, sell-side analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup lowered their price target 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. UBS Group lowered their target price on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Morgan Stanley set a $23.50 price target on Kimco Realty in a research note on Monday, January 5th. Truist Financial reduced their price target on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Finally, Wells Fargo & Company dropped their price objective on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and an average price target of $23.89.

Kimco Realty Company 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.