Nordea Investment Management AB Increases Position in Kimco Realty Corp (NYSE:KIM)

Nordea Investment Management AB increased its stake in Kimco Realty Corp (NYSE:KIM) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,244 shares of the real estate investment trust’s stock after acquiring an additional 3,614 shares during the period. Nordea Investment Management AB’s holdings in Kimco Realty were worth $1,319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its position in Kimco Realty by 3.4% in the third quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock worth $340,000 after acquiring an additional 482 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Kimco Realty by 1.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,782 shares of the real estate investment trust’s stock worth $816,000 after acquiring an additional 522 shares in the last quarter. Coldstream Capital Management Inc. grew its position in Kimco Realty by 2.5% in the third quarter. Coldstream Capital Management Inc. now owns 23,380 shares of the real estate investment trust’s stock worth $544,000 after acquiring an additional 565 shares in the last quarter. CWM LLC lifted its stake in Kimco Realty by 4.7% in the third quarter. CWM LLC now owns 13,323 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 595 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in Kimco Realty by 2.0% in the second quarter. Truist Financial Corp now owns 37,223 shares of the real estate investment trust’s stock worth $724,000 after purchasing an additional 746 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird boosted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Mizuho boosted their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. UBS Group boosted their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Finally, Scotiabank boosted their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th. Eleven analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty currently has a consensus rating of “Hold” and a consensus target price of $24.84.

Kimco Realty Price Performance

KIM stock opened at $21.66 on Monday. Kimco Realty Corp has a 1 year low of $17.57 and a 1 year high of $25.83. The company has a market cap of $14.60 billion, a P/E ratio of 39.38, a PEG ratio of 3.22 and a beta of 1.51. The firm has a 50-day moving average of $24.26 and a 200 day moving average of $23.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.22). The company had revenue of $507.63 million during the quarter, compared to the consensus estimate of $502.78 million. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. Kimco Realty’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. On average, sell-side analysts forecast that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend was Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio is 181.82%.

About Kimco Realty

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.