Kimco Realty Corporation (NYSE:KIM) Declares Dividend Increase – $0.28 Per Share

Kimco Realty Corporation (NYSE:KIM) declared a quarterly dividend on Monday, August 3rd. Investors of record on Friday, September 4th will be paid a dividend of 0.28 per share by the real estate investment trust on Thursday, September 17th. This represents a c) dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, September 4th. This is a 7.7% increase from Kimco Realty’s previous quarterly dividend of $0.26.

Kimco Realty has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Kimco Realty has a dividend payout ratio of 140.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kimco Realty to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 54.5%.

Kimco Realty Price Performance

NYSE KIM opened at $25.03 on Wednesday. The stock’s 50-day moving average price is $25.18 and its two-hundred day moving average price is $23.63. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.78. The company has a market cap of $16.88 billion, a PE ratio of 29.10, a PEG ratio of 2.79 and a beta of 0.95. Kimco Realty has a 1 year low of $19.76 and a 1 year high of $26.65.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. M&T Bank Corp boosted its stake in shares of Kimco Realty by 4,368.2% during the 4th quarter. M&T Bank Corp now owns 791,494 shares of the real estate investment trust’s stock worth $16,044,000 after acquiring an additional 773,780 shares in the last quarter. Geode Capital Management LLC grew its holdings in Kimco Realty by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust’s stock valued at $386,617,000 after purchasing an additional 223,936 shares during the last quarter. Strs Ohio raised its position in shares of Kimco Realty by 566.3% in the first quarter. Strs Ohio now owns 722,282 shares of the real estate investment trust’s stock valued at $16,230,000 after purchasing an additional 613,876 shares during the period. Legal & General Group Plc lifted its stake in shares of Kimco Realty by 7.5% in the fourth quarter. Legal & General Group Plc now owns 6,323,989 shares of the real estate investment trust’s stock worth $128,187,000 after buying an additional 443,046 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Kimco Realty by 9.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 539,577 shares of the real estate investment trust’s stock worth $10,937,000 after buying an additional 48,672 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

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.