State Board of Administration of Florida Retirement System Buys 8,550 Shares of Kimco Realty Corporation $KIM

by · The Cerbat Gem

State Board of Administration of Florida Retirement System boosted its stake in Kimco Realty Corporation (NYSE:KIM – Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 684,972 shares of the real estate investment trust’s stock after purchasing an additional 8,550 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Kimco Realty worth $14,398,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Korea Investment CORP lifted its position in shares of Kimco Realty by 31.2% in the second quarter. Korea Investment CORP now owns 467,980 shares of the real estate investment trust’s stock worth $9,837,000 after buying an additional 111,200 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Kimco Realty by 3.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 29,832 shares of the real estate investment trust’s stock worth $627,000 after acquiring an additional 1,043 shares during the last quarter. Vinva Investment Management Ltd bought a new stake in Kimco Realty in the 2nd quarter worth approximately $360,000. Employees Retirement System of Texas raised its holdings in shares of Kimco Realty by 1.7% during the 2nd quarter. Employees Retirement System of Texas now owns 356,607 shares of the real estate investment trust’s stock worth $7,496,000 after acquiring an additional 5,956 shares in the last quarter. Finally, Choreo LLC bought a new position in shares of Kimco Realty during the 2nd quarter valued at approximately $374,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Kimco Realty in a research report on Tuesday, September 9th. They issued a “buy” rating and a $27.00 price target on the stock. Argus reissued a “buy” rating and issued a $27.00 price objective on shares of Kimco Realty in a research note on Monday. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Friday. Barclays increased their price target on shares of Kimco Realty from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Finally, Scotiabank reduced their price objective on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Kimco Realty has an average rating of “Hold” and an average price target of $24.50.

View Our Latest Research Report on KIM

Kimco Realty Trading Down 0.8%

Shares of KIM opened at $20.51 on Tuesday. The company’s fifty day simple moving average is $21.11 and its 200-day simple moving average is $21.36. The company has a market cap of $13.89 billion, a P/E ratio of 24.70, a P/E/G ratio of 1.56 and a beta of 1.28. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $25.53.

Kimco Realty (NYSE:KIM – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The firm had revenue of $535.86 million during the quarter, compared to analysts’ expectations of $522.31 million. During the same period in the previous year, the company earned $0.43 EPS. The firm’s revenue for the quarter 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. As a group, analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.26 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, December 5th. Kimco Realty’s payout ratio is currently 125.30%.

Insider Buying and Selling at Kimco Realty

In related news, Director Mary Hogan Preusse sold 23,100 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $21.66, for a total transaction of $500,346.00. Following the completion of the sale, the director directly owned 40,260 shares of the company’s stock, valued at approximately $872,031.60. This trade represents a 36.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Kimco Realty Company Profile

(Free Report)

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.

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