Ethic Inc. Raises Stake in Kimco Realty Corporation $KIM

Ethic Inc. increased its stake in shares of Kimco Realty Corporation (NYSE:KIM) by 195.7% during the second quarter, HoldingsChannel.com reports. The firm owned 52,597 shares of the real estate investment trust’s stock after buying an additional 34,807 shares during the period. Ethic Inc.’s holdings in Kimco Realty were worth $1,101,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KIM. Trust Co. of Toledo NA OH purchased a new stake in shares of Kimco Realty in the 2nd quarter valued at about $27,000. AlphaQuest LLC purchased a new stake in shares of Kimco Realty in the 1st quarter valued at about $29,000. Golden State Wealth Management LLC raised its holdings in shares of Kimco Realty by 177.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,424 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 911 shares in the last quarter. Keystone Global Partners LLC purchased a new stake in shares of Kimco Realty in the 1st quarter valued at about $30,000. Finally, WASHINGTON TRUST Co purchased a new stake in shares of Kimco Realty in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Insider Transactions at Kimco Realty

In related news, Director Mary Hogan Preusse sold 23,100 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $21.66, for a total transaction of $500,346.00. Following the transaction, the director directly owned 40,260 shares in the company, valued at $872,031.60. This trade represents a 36.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

Kimco Realty Price Performance

KIM opened at $22.34 on Monday. The stock’s 50 day simple moving average is $21.93 and its 200 day simple moving average is $21.35. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.63 and a beta of 1.30.

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

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, September 5th. Kimco Realty’s dividend payout ratio (DPR) is presently 120.48%.

Wall Street Analyst Weigh In

KIM has been the topic of several recent analyst reports. Barclays raised their price target on Kimco Realty from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Wall Street Zen upgraded Kimco Realty from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Mizuho increased their price objective on Kimco Realty from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Wells Fargo & Company started coverage on Kimco Realty in a research report on Tuesday, October 21st. They set an “equal weight” rating and a $23.00 price objective on the stock. Finally, LADENBURG THALM/SH SH started coverage on Kimco Realty in a research report on Tuesday, September 9th. They set a “buy” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.92.

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.