Kimco Realty Corporation $KIM Shares Bought by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC raised its position in Kimco Realty Corporation (NYSE:KIM) by 66.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,000 shares of the real estate investment trust’s stock after purchasing an additional 200,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.07% of Kimco Realty worth $10,925,000 at the end of the most recent quarter.

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

Kimco Realty Stock Performance

Kimco Realty stock opened at $21.05 on Tuesday. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $23.65. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.77. The stock has a market cap of $14.25 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The stock has a 50 day moving average of $20.36 and a 200-day moving average of $21.18.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $535.86 million for the quarter, compared to analysts’ expectations 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 company posted $0.43 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. On average, analysts expect 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 was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.26 dividend. This is a boost from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, December 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.9%. Kimco Realty’s dividend payout ratio (DPR) is currently 125.30%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank lowered their price target on Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating for the company in a report on Thursday, November 13th. Citigroup lowered their target price on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Wells Fargo & Company dropped their target price on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, December 15th. Argus restated a “buy” rating and issued a $27.00 price target on shares of Kimco Realty in a report on Monday, December 1st. Finally, Truist Financial lowered their price objective on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus price target of $23.89.

Kimco Realty Company Profile

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.