Victory Capital Management Inc. Acquires 274,295 Shares of Kimco Realty Corp (NYSE:KIM)

Victory Capital Management Inc. raised its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 48.8% in the third quarter, Holdings Channel.com reports. The firm owned 836,427 shares of the real estate investment trust’s stock after purchasing an additional 274,295 shares during the period. Victory Capital Management Inc.’s holdings in Kimco Realty were worth $19,422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Kimco Realty by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,786,626 shares of the real estate investment trust’s stock valued at $87,925,000 after purchasing an additional 25,317 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Kimco Realty during the third quarter valued at approximately $302,000. Apollon Wealth Management LLC increased its position in shares of Kimco Realty by 18.5% during the third quarter. Apollon Wealth Management LLC now owns 14,887 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 2,325 shares in the last quarter. Catalytic Wealth RIA LLC bought a new stake in shares of Kimco Realty during the third quarter valued at approximately $294,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Kimco Realty by 0.9% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 846,112 shares of the real estate investment trust’s stock valued at $19,647,000 after acquiring an additional 7,524 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Up 0.8 %

KIM opened at $25.10 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.59. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 45.25, a price-to-earnings-growth ratio of 3.29 and a beta of 1.50. The firm’s fifty day moving average is $23.77 and its 200 day moving average is $21.57. Kimco Realty Corp has a fifty-two week low of $17.57 and a fifty-two week high of $25.19.

Kimco Realty (NYSE:KIM) last announced 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 net margin of 19.58% and a return on equity of 3.68%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, sell-side analysts forecast that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.25 dividend. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, December 5th. Kimco Realty’s payout ratio is currently 174.55%.

Analyst Ratings Changes

Several brokerages recently weighed in on KIM. Truist Financial raised their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Scotiabank raised their price target on shares of Kimco Realty from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI raised their price target on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Robert W. Baird raised their price target on shares of Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler restated an “overweight” rating and issued a $29.00 target price (up previously from $26.00) on shares of Kimco Realty in a report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus price target of $24.14.

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.