Kiker Wealth Management LLC Makes New $606,000 Investment in Kimco Realty Corporation $KIM

Kiker Wealth Management LLC purchased a new stake in Kimco Realty Corporation (NYSE:KIM) in the third quarter, Holdings Channel reports. The firm purchased 27,756 shares of the real estate investment trust’s stock, valued at approximately $606,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Kimco Realty in the 2nd quarter valued at $175,963,000. Balyasny Asset Management L.P. purchased a new position in shares of Kimco Realty during the 2nd quarter worth $33,075,000. Hudson Bay Capital Management LP acquired a new position in shares of Kimco Realty during the 2nd quarter valued at about $24,046,000. Federated Hermes Inc. grew its holdings in shares of Kimco Realty by 15.5% in the second quarter. Federated Hermes Inc. now owns 8,369,774 shares of the real estate investment trust’s stock valued at $175,933,000 after purchasing an additional 1,124,125 shares during the period. Finally, State Street Corp grew its holdings in shares of Kimco Realty by 2.2% in the second quarter. State Street Corp now owns 46,347,837 shares of the real estate investment trust’s stock valued at $974,232,000 after purchasing an additional 995,352 shares during the period. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Up 0.9%

NYSE KIM opened at $20.60 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.59 and a current ratio of 3.59. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.43 and a beta of 1.05. The firm has a 50 day simple moving average of $20.32 and a 200-day simple moving average of $21.20. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $23.65.

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. Kimco Realty had a net margin of 28.24% and a return on equity of 5.60%. The company had revenue of $535.86 million for the quarter, compared to analyst estimates of $522.31 million. During the same period in the prior year, the business earned $0.43 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Equities research analysts anticipate that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, December 5th. 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 5.0%. Kimco Realty’s payout ratio is currently 125.30%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group reduced their price target on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank decreased their price target 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. Citigroup cut their price objective on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Mizuho set a $21.00 target price on shares of Kimco Realty in a research report on Friday. Finally, Argus reaffirmed a “buy” rating and set a $27.00 target price on shares of Kimco Realty in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.19.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.