iA Global Asset Management Inc. Buys New Position in Kimco Realty Corporation $KIM

iA Global Asset Management Inc. purchased a new position in Kimco Realty Corporation (NYSE:KIM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 50,360 shares of the real estate investment trust’s stock, valued at approximately $1,100,000.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in Kimco Realty in the 2nd quarter worth $175,963,000. Balyasny Asset Management L.P. bought a new position in shares of Kimco Realty in the second quarter worth about $33,075,000. Hudson Bay Capital Management LP bought a new position in shares of Kimco Realty in the second quarter worth about $24,046,000. Federated Hermes Inc. lifted its position in shares of Kimco Realty by 15.5% during 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 buying an additional 1,124,125 shares in the last quarter. Finally, State Street Corp grew its stake 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 during the period. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Trading Up 1.0%

Shares of Kimco Realty stock opened at $20.98 on Friday. Kimco Realty Corporation has a twelve month low of $17.93 and a twelve month high of $23.65. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $20.39 and a 200-day moving average price of $21.17. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.14 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The company had revenue of $535.86 million during the quarter, compared to analyst estimates of $522.31 million. During the same period in the prior year, the company earned $0.43 earnings per share. The firm’s 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.0%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, December 5th. Kimco Realty’s dividend payout ratio (DPR) is 125.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho set a $21.00 target price on shares of Kimco Realty in a research note on Friday, January 9th. Citigroup decreased their price objective on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Kimco Realty in a report on Tuesday, January 13th. Truist Financial lowered their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kimco Realty in a research report on Thursday. One 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.89.

Kimco Realty 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.