Arrowstreet Capital Limited Partnership Acquires Shares of 635,475 Kimco Realty Corporation $KIM

Arrowstreet Capital Limited Partnership bought a new position in shares of Kimco Realty Corporation (NYSE:KIM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 635,475 shares of the real estate investment trust’s stock, valued at approximately $13,358,000.

Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in Kimco Realty during the second quarter worth about $331,000. M&T Bank Corp raised its holdings in Kimco Realty by 1.6% in the 2nd quarter. M&T Bank Corp now owns 82,262 shares of the real estate investment trust’s stock valued at $1,730,000 after acquiring an additional 1,333 shares during the last quarter. Virtus Investment Advisers LLC lifted its stake in Kimco Realty by 28.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 8,213 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 1,813 shares in the last quarter. Norges Bank acquired a new position in shares of Kimco Realty during the 2nd quarter worth approximately $175,963,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Kimco Realty by 72.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,077 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 4,217 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kimco Realty news, Director Mary Hogan Preusse sold 23,100 shares of the company’s 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 sale, the director owned 40,260 shares in the company, valued at $872,031.60. This represents a 36.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KIM. Evercore ISI increased their price target on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 8th. Argus restated a “buy” rating and issued a $27.00 target price on shares of Kimco Realty in a report on Monday, December 1st. Wall Street Zen downgraded Kimco Realty from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup reduced their price target on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, December 3rd. Finally, Mizuho upped their price objective on shares of Kimco Realty from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. One 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 stock. According to MarketBeat.com, Kimco Realty currently has an average rating of “Hold” and a consensus target price of $24.50.

Kimco Realty Trading Down 1.8%

Shares of KIM stock opened at $19.78 on Tuesday. Kimco Realty Corporation has a fifty-two week low of $17.93 and a fifty-two week high of $25.19. The company has a 50 day moving average price of $20.96 and a 200 day moving average price of $21.32. The stock has a market capitalization of $13.39 billion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.59 and a current ratio of 3.59.

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

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.3%. 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 presently 125.30%.

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.