Principal Financial Group Inc. Has $32.55 Million Stock Holdings in Kimco Realty Corp (NYSE:KIM)

Principal Financial Group Inc. lifted its stake in shares of Kimco Realty Corp (NYSE:KIM) by 23.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,389,023 shares of the real estate investment trust’s stock after purchasing an additional 259,426 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of Kimco Realty worth $32,545,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp raised its position in shares of Kimco Realty by 2.0% during the third quarter. State Street Corp now owns 45,167,816 shares of the real estate investment trust’s stock worth $1,048,797,000 after purchasing an additional 882,047 shares during the period. FMR LLC raised its position in shares of Kimco Realty by 6.1% during the third quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock worth $518,733,000 after purchasing an additional 1,283,352 shares during the period. Geode Capital Management LLC raised its position in Kimco Realty by 0.3% during the third quarter. Geode Capital Management LLC now owns 17,215,209 shares of the real estate investment trust’s stock valued at $398,468,000 after buying an additional 53,378 shares during the period. Charles Schwab Investment Management Inc. raised its position in Kimco Realty by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock valued at $220,131,000 after buying an additional 405,685 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Kimco Realty by 842.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock valued at $145,420,000 after buying an additional 5,598,091 shares during the period. 89.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Jefferies Financial Group lowered Kimco Realty from a “buy” rating to a “hold” rating and dropped their price target for the company from $28.00 to $25.00 in a research report on Thursday, January 2nd. Scotiabank upped their price target on Kimco Realty from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. UBS Group upped their price target on Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Evercore ISI dropped their price target on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Finally, Robert W. Baird upped their price target on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Kimco Realty has an average rating of “Moderate Buy” and a consensus target price of $24.83.

Kimco Realty Stock Performance

KIM opened at $21.52 on Friday. The company has a market cap of $14.50 billion, a PE ratio of 38.42, a price-to-earnings-growth ratio of 2.77 and a beta of 1.50. The stock has a 50-day moving average of $22.67 and a 200-day moving average of $23.37. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. As a group, equities research analysts forecast that Kimco Realty Corp will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.65%. Kimco Realty’s dividend payout ratio (DPR) is presently 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.