Renaissance Technologies LLC Grows Position in Kimco Realty Corporation $KIM

Renaissance Technologies LLC raised its stake in Kimco Realty Corporation (NYSE:KIM) by 1,568.7% in the first quarter, HoldingsChannel.com reports. The fund owned 1,235,436 shares of the real estate investment trust’s stock after purchasing an additional 1,161,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Kimco Realty were worth $27,760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Zions Bancorporation National Association UT boosted its stake in shares of Kimco Realty by 270.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 1,437 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,049 shares during the last quarter. Brown Lisle Cummings Inc. raised its stake in Kimco Realty by 127.3% in the 4th quarter. Brown Lisle Cummings Inc. now owns 1,500 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 840 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Kimco Realty by 60.7% in the 1st quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 546 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Kimco Realty in the 2nd quarter valued at about $37,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Kimco Realty during the 2nd quarter worth about $42,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Down 1.0%

KIM opened at $25.98 on Thursday. Kimco Realty Corporation has a 12 month low of $19.76 and a 12 month high of $26.65. The business has a 50-day moving average of $25.09 and a two-hundred day moving average of $23.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.78 and a quick ratio of 3.78. The stock has a market capitalization of $17.52 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.89 and a beta of 0.95.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.82%. The business had revenue of $558.02 million for the quarter, compared to analyst estimates of $542.73 million. During the same period in the prior year, the firm posted $0.44 EPS. The company’s revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that Kimco Realty Corporation will post 1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

KIM has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Kimco Realty from $23.50 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Stifel Nicolaus set a $28.00 target price on shares of Kimco Realty in a research report on Thursday, June 11th. Truist Financial lifted their target price on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Wolfe Research upgraded Kimco Realty from a “peer perform” rating to an “outperform” rating and set a $28.00 price target for the company in a report on Monday, June 22nd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $29.00 price target on shares of Kimco Realty in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.12.

Kimco Realty 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.