Prudential PLC Purchases Shares of 33,393 Kimco Realty Corporation $KIM

Prudential PLC purchased a new stake in Kimco Realty Corporation (NYSE:KIM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 33,393 shares of the real estate investment trust's stock, valued at approximately $702,000.

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A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KIM. Cetera Investment Advisers raised its holdings in Kimco Realty by 94.0% in the first quarter. Cetera Investment Advisers now owns 63,327 shares of the real estate investment trust's stock valued at $1,345,000 after buying an additional 30,683 shares during the period. Assetmark Inc. grew its position in Kimco Realty by 4.2% in the 1st quarter. Assetmark Inc. now owns 57,582 shares of the real estate investment trust's stock valued at $1,223,000 after buying an additional 2,332 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Kimco Realty by 0.9% during the 1st quarter. TD Asset Management Inc now owns 237,352 shares of the real estate investment trust's stock worth $5,041,000 after acquiring an additional 2,088 shares in the last quarter. HB Wealth Management LLC grew its position in Kimco Realty by 13.6% during the 1st quarter. HB Wealth Management LLC now owns 10,434 shares of the real estate investment trust's stock worth $222,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Kimco Realty by 105.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,259,781 shares of the real estate investment trust's stock valued at $26,758,000 after buying an additional 648,021 shares during the period. Institutional investors and hedge funds own 89.25% of the company's stock.

Insider Activity

In other news, Director Mary Hogan Preusse sold 23,100 shares of Kimco Realty stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $21.66, for a total transaction of $500,346.00. Following the transaction, the director directly owned 40,260 shares of the company's stock, valued at $872,031.60. The trade was a 36.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company's stock.

Kimco Realty Trading Up 2.7%

Shares of Kimco Realty stock opened at $20.40 on Monday. Kimco Realty Corporation has a 52-week low of $17.93 and a 52-week high of $25.83. The stock's 50-day simple moving average is $21.28 and its 200 day simple moving average is $21.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.92 and a current ratio of 3.92. The stock has a market capitalization of $13.81 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.56 and a beta of 1.28.

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 business had revenue of $535.86 million during the quarter, compared to analysts' expectations of $522.31 million. During the same quarter in the previous year, the company earned $0.43 EPS. 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. As a group, research analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current year.

Kimco Realty Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KIM shares. LADENBURG THALM/SH SH assumed coverage on shares of Kimco Realty in a report on Tuesday, September 9th. They set a "buy" rating and a $27.00 price objective on the stock. Scotiabank reduced their target price on Kimco Realty from $23.00 to $22.00 and set a "sector perform" rating on the stock in a report on Thursday, November 13th. Wall Street Zen downgraded shares of Kimco Realty from a "hold" rating to a "sell" rating in a research report on Saturday, November 1st. Mizuho raised their price target on Kimco Realty from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Finally, Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $24.27.

View Our Latest Research Report on Kimco Realty

Kimco Realty Profile

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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