CIBC Asset Management Inc Has $2.29 Million Stock Position in Kimco Realty Corp (NYSE:KIM)

CIBC Asset Management Inc increased its position in Kimco Realty Corp (NYSE:KIM) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,636 shares of the real estate investment trust’s stock after buying an additional 8,170 shares during the period. CIBC Asset Management Inc’s holdings in Kimco Realty were worth $2,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KIM. Tokio Marine Asset Management Co. Ltd. lifted its stake in Kimco Realty by 4.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,969 shares of the real estate investment trust’s stock worth $557,000 after purchasing an additional 1,008 shares during the last quarter. Metis Global Partners LLC grew its stake in Kimco Realty by 21.3% in the third quarter. Metis Global Partners LLC now owns 104,481 shares of the real estate investment trust’s stock worth $2,426,000 after purchasing an additional 18,317 shares during the period. KBC Group NV increased its stake in shares of Kimco Realty by 408.7% in the 3rd quarter. KBC Group NV now owns 669,923 shares of the real estate investment trust’s stock worth $15,556,000 after acquiring an additional 538,232 shares in the last quarter. MQS Management LLC bought a new position in Kimco Realty during the 3rd quarter valued at approximately $348,000. Finally, Victory Capital Management Inc. raised its position in shares of Kimco Realty by 48.8% in the 3rd quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock worth $19,422,000 after purchasing an additional 274,295 shares during the last quarter. 89.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $29.00 price objective (up from $26.00) on shares of Kimco Realty in a research report on Friday, August 2nd. Raymond James raised shares of Kimco Realty from a “market perform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Friday, August 16th. Robert W. Baird increased their target price on Kimco Realty from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. UBS Group raised their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company boosted their target price on shares of Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.14.

Kimco Realty Price Performance

KIM opened at $25.05 on Wednesday. The business has a fifty day moving average of $23.81 and a 200 day moving average of $21.62. The stock has a market cap of $16.88 billion, a P/E ratio of 45.54, a PEG ratio of 3.28 and a beta of 1.50. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.19.

Kimco Realty (NYSE:KIM) last issued its 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 for the quarter, compared to analysts’ expectations of $502.78 million. Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, sell-side analysts anticipate that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Thursday, December 5th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s payout ratio is currently 174.55%.

Kimco Realty Company 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.