Rakuten Investment Management Inc. Takes $6.21 Million Position in Kimco Realty Corporation $KIM

Rakuten Investment Management Inc. purchased a new position in Kimco Realty Corporation (NYSE:KIM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 284,184 shares of the real estate investment trust’s stock, valued at approximately $6,209,000.

Several other institutional investors have also made changes to their positions in KIM. Arrowstreet Capital Limited Partnership acquired a new position in shares of Kimco Realty in the second quarter worth $13,358,000. D.A. Davidson & CO. grew its stake in Kimco Realty by 71.0% in the second quarter. D.A. Davidson & CO. now owns 16,810 shares of the real estate investment trust’s stock valued at $353,000 after purchasing an additional 6,982 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Kimco Realty in the 2nd quarter worth about $332,000. Vinva Investment Management Ltd purchased a new stake in shares of Kimco Realty during the 2nd quarter worth about $360,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Kimco Realty during the 2nd quarter worth about $702,000. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group dropped their price objective on Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Barclays restated an “overweight” rating and set a $25.00 price target on shares of Kimco Realty in a research note on Tuesday, January 13th. Mizuho set a $21.00 price objective on shares of Kimco Realty in a research note on Friday, January 9th. Morgan Stanley set a $23.50 price objective on shares of Kimco Realty in a report on Monday, January 5th. Finally, Scotiabank lowered their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.89.

Kimco Realty Price Performance

Shares of Kimco Realty stock opened at $20.78 on Friday. The firm has a fifty day simple moving average of $20.38 and a 200-day simple moving average of $21.18. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.77. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $23.65. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.46 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $535.86 million for 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%. Kimco Realty’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. On average, sell-side analysts expect that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.26 dividend. The ex-dividend date was Friday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. Kimco Realty’s dividend payout ratio is presently 125.30%.

About Kimco Realty

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.