Magnetar Financial LLC Invests $304,000 in Kimco Realty Corporation $KIM

Magnetar Financial LLC purchased a new stake in Kimco Realty Corporation (NYSE:KIM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,293 shares of the real estate investment trust’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KIM. Invesco Ltd. increased its holdings in Kimco Realty by 14.7% in the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust’s stock worth $423,441,000 after purchasing an additional 2,552,276 shares in the last quarter. Deutsche Bank AG raised its holdings in Kimco Realty by 94.7% in the 4th quarter. Deutsche Bank AG now owns 4,177,662 shares of the real estate investment trust’s stock valued at $97,883,000 after buying an additional 2,031,722 shares during the last quarter. Resolution Capital Ltd raised its holdings in Kimco Realty by 13.7% in the 4th quarter. Resolution Capital Ltd now owns 16,578,826 shares of the real estate investment trust’s stock valued at $388,442,000 after buying an additional 1,992,550 shares during the last quarter. Kettle Hill Capital Management LLC boosted its position in Kimco Realty by 180.9% during the 4th quarter. Kettle Hill Capital Management LLC now owns 1,409,811 shares of the real estate investment trust’s stock worth $33,032,000 after buying an additional 907,929 shares during the period. Finally, Centersquare Investment Management LLC grew its holdings in Kimco Realty by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust’s stock worth $191,170,000 after acquiring an additional 733,514 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Up 0.5%

NYSE:KIM opened at $22.51 on Tuesday. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $25.83. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $15.24 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.63 and a beta of 1.32. The firm has a fifty day simple moving average of $21.51 and a two-hundred day simple moving average of $21.10.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $525.18 million for the quarter, compared to analyst estimates of $524.75 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. Analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.4%. Kimco Realty’s payout ratio is currently 120.48%.

Analysts Set New Price Targets

KIM has been the subject of several analyst reports. Barclays raised their price target on shares of Kimco Realty from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. Mizuho raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Raymond James Financial reduced their target price on Kimco Realty from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Monday, May 5th. Wall Street Zen upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Piper Sandler dropped their target price on shares of Kimco Realty from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and an average target price of $24.75.

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.