Geode Capital Management LLC Purchases 53,378 Shares of Kimco Realty Corp (NYSE:KIM)

Geode Capital Management LLC grew its position in shares of Kimco Realty Corp (NYSE:KIM) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,215,209 shares of the real estate investment trust’s stock after buying an additional 53,378 shares during the period. Geode Capital Management LLC’s holdings in Kimco Realty were worth $398,468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in Kimco Realty in the 3rd quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Kimco Realty during the third quarter worth approximately $37,000. Blue Trust Inc. increased its stake in Kimco Realty by 613.5% during the 2nd quarter. Blue Trust Inc. now owns 2,112 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,816 shares during the period. Quarry LP acquired a new position in Kimco Realty in the 3rd quarter valued at $51,000. Finally, UMB Bank n.a. lifted its position in shares of Kimco Realty by 112.6% during the 2nd quarter. UMB Bank n.a. now owns 3,374 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 1,787 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analyst Ratings Changes

KIM has been the topic of a number of analyst reports. Argus upgraded shares of Kimco Realty to a “strong-buy” rating in a research note on Friday, September 6th. Compass Point upped their target price on Kimco Realty from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. 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 note on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and an average target price of $24.70.

Kimco Realty Stock Performance

Shares of KIM stock opened at $24.61 on Friday. The stock has a market capitalization of $16.59 billion, a PE ratio of 44.75, a PEG ratio of 3.20 and a beta of 1.50. The business’s 50 day simple moving average is $24.47 and its 200 day simple moving average is $22.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.83.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, research analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.06%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 5th. Kimco Realty’s payout ratio is currently 181.82%.

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.