Thrivent Financial for Lutherans Acquires 5,624 Shares of Kimco Realty Corp (NYSE:KIM)

Thrivent Financial for Lutherans boosted its holdings in Kimco Realty Corp (NYSE:KIM) by 2.2% during the third quarter, Holdings Channel.com reports. The fund owned 258,593 shares of the real estate investment trust’s stock after buying an additional 5,624 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Kimco Realty were worth $6,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC increased its position in shares of Kimco Realty by 47.2% in the first quarter. Lazard Asset Management LLC now owns 30,398 shares of the real estate investment trust’s stock worth $595,000 after purchasing an additional 9,748 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Kimco Realty by 30.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,846,943 shares of the real estate investment trust’s stock valued at $114,659,000 after buying an additional 1,381,490 shares in the last quarter. Kentucky Retirement Systems lifted its holdings in shares of Kimco Realty by 2.0% during the 1st quarter. Kentucky Retirement Systems now owns 50,589 shares of the real estate investment trust’s stock worth $992,000 after acquiring an additional 992 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Kimco Realty by 9.2% in the first quarter. Public Employees Retirement Association of Colorado now owns 73,170 shares of the real estate investment trust’s stock worth $1,435,000 after acquiring an additional 6,170 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Kimco Realty by 3.2% in the first quarter. Public Employees Retirement System of Ohio now owns 1,202,302 shares of the real estate investment trust’s stock valued at $23,577,000 after acquiring an additional 37,243 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Performance

NYSE:KIM opened at $25.37 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.78. The firm’s fifty day simple moving average is $23.93 and its 200 day simple moving average is $21.75. The stock has a market cap of $17.10 billion, a P/E ratio of 46.13, a price-to-earnings-growth ratio of 3.32 and a beta of 1.50. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.46.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a net margin of 19.58% and a return on equity of 3.68%. The company had revenue of $507.63 million for the quarter, compared to analysts’ expectations of $502.78 million. During the same quarter in the prior year, the firm earned $0.40 EPS. Kimco Realty’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts predict that Kimco Realty Corp will post 1.64 EPS for the current year.

Kimco Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, December 5th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.24. Kimco Realty’s dividend payout ratio (DPR) is presently 174.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KIM shares. Wells Fargo & Company upped their price objective on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. UBS Group increased their price target on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group lifted their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Truist Financial increased their target price on shares of Kimco Realty from $22.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird raised their price objective on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and an average target price of $24.14.

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.