iA Global Asset Management Inc. Makes New Investment in Kimco Realty Corporation $KIM

iA Global Asset Management Inc. acquired a new stake in Kimco Realty Corporation (NYSE:KIM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 50,360 shares of the real estate investment trust’s stock, valued at approximately $1,100,000.

Other large investors have also recently modified their holdings of the company. Naples Global Advisors LLC lifted its position in Kimco Realty by 4.1% in the third quarter. Naples Global Advisors LLC now owns 76,062 shares of the real estate investment trust’s stock worth $1,662,000 after buying an additional 3,000 shares during the last quarter. Simplicity Wealth LLC bought a new stake in shares of Kimco Realty in the 3rd quarter worth about $206,000. Rakuten Investment Management Inc. purchased a new position in shares of Kimco Realty during the 3rd quarter worth about $6,209,000. Vert Asset Management LLC grew its holdings in Kimco Realty by 2.3% during the 3rd quarter. Vert Asset Management LLC now owns 306,704 shares of the real estate investment trust’s stock valued at $6,701,000 after purchasing an additional 6,910 shares during the last quarter. Finally, Pacific Heights Asset Management LLC grew its holdings in Kimco Realty by 66.7% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust’s stock valued at $10,925,000 after purchasing an additional 200,000 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on KIM shares. Morgan Stanley set a $23.50 target price on Kimco Realty in a research report on Monday, January 5th. Wells Fargo & Company cut their price objective on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, December 15th. Citigroup decreased their target price on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Scotiabank cut their price target on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kimco Realty in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.89.

Kimco Realty Stock Performance

Shares of Kimco Realty stock opened at $20.98 on Friday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average price is $20.39 and its 200-day moving average price is $21.17. The firm has a market cap of $14.20 billion, a P/E ratio of 25.27, a P/E/G ratio of 1.14 and a beta of 1.05. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $23.65.

Kimco Realty (NYSE:KIM) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $535.86 million during the quarter, compared to analyst estimates of $522.31 million. Kimco Realty had a net margin of 28.24% and a return on equity of 5.60%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. On average, equities research analysts expect that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 5.0%. Kimco Realty’s dividend payout ratio is 125.30%.

Kimco Realty Company Profile

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.