Nordea Investment Management AB Boosts Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Nordea Investment Management AB grew its position in shares of Kimco Realty Corp (NYSE:KIM) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,244 shares of the real estate investment trust’s stock after acquiring an additional 3,614 shares during the quarter. Nordea Investment Management AB’s holdings in Kimco Realty were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Lord Abbett & CO. LLC purchased a new position in Kimco Realty during the 3rd quarter worth $17,636,000. Synovus Financial Corp boosted its holdings in Kimco Realty by 6.2% during the 3rd quarter. Synovus Financial Corp now owns 42,579 shares of the real estate investment trust’s stock worth $989,000 after acquiring an additional 2,476 shares during the last quarter. Tidal Investments LLC boosted its holdings in Kimco Realty by 17.9% during the 3rd quarter. Tidal Investments LLC now owns 35,999 shares of the real estate investment trust’s stock worth $836,000 after acquiring an additional 5,466 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Kimco Realty during the 3rd quarter worth $31,000. Finally, World Investment Advisors LLC purchased a new position in Kimco Realty during the 3rd quarter worth $269,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Jefferies Financial Group downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and cut their price target for the stock from $28.00 to $25.00 in a report on Thursday, January 2nd. Robert W. Baird boosted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. downgraded shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Friday, December 20th. Finally, Scotiabank boosted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Kimco Realty has a consensus rating of “Hold” and an average price target of $24.84.

Kimco Realty Trading Down 1.7 %

Shares of KIM opened at $21.66 on Monday. The business’s 50-day moving average price is $24.26 and its 200-day moving average price is $23.05. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.83. The stock has a market cap of $14.60 billion, a PE ratio of 39.38, a P/E/G ratio of 3.22 and a beta of 1.51. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The company had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities analysts forecast that Kimco Realty Corp will post 1.64 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.62%. Kimco Realty’s payout ratio is presently 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.