Korea Investment CORP Buys 16,700 Shares of Kimco Realty Corp (NYSE:KIM)

Korea Investment CORP lifted its stake in Kimco Realty Corp (NYSE:KIM) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 221,580 shares of the real estate investment trust’s stock after acquiring an additional 16,700 shares during the quarter. Korea Investment CORP’s holdings in Kimco Realty were worth $5,192,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Amundi raised its position in shares of Kimco Realty by 70.7% in the fourth quarter. Amundi now owns 5,999,390 shares of the real estate investment trust’s stock valued at $132,227,000 after purchasing an additional 2,484,536 shares during the period. National Pension Service raised its holdings in Kimco Realty by 4,342.8% in the 4th quarter. National Pension Service now owns 1,078,262 shares of the real estate investment trust’s stock worth $25,264,000 after acquiring an additional 1,053,992 shares during the period. American Century Companies Inc. raised its holdings in Kimco Realty by 430.8% in the 4th quarter. American Century Companies Inc. now owns 1,163,087 shares of the real estate investment trust’s stock worth $27,251,000 after acquiring an additional 943,956 shares during the period. State Street Corp lifted its position in Kimco Realty by 2.0% during the 3rd quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after acquiring an additional 882,047 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Kimco Realty during the third quarter valued at about $17,636,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Evercore ISI cut their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. JPMorgan Chase & Co. cut their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Citigroup lowered their price objective on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company cut their target price on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Finally, Mizuho decreased their price target on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Ten analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.43.

Kimco Realty Price Performance

Shares of KIM stock opened at $21.26 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59. The stock’s fifty day simple moving average is $21.74 and its 200 day simple moving average is $23.10. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.83. The firm has a market cap of $14.44 billion, a price-to-earnings ratio of 37.96, a P/E/G ratio of 2.78 and a beta of 1.53.

Kimco Realty (NYSE:KIM) last announced its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. On average, analysts expect that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, March 7th. Kimco Realty’s payout ratio is currently 178.57%.

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.