Great Lakes Retirement Inc. Grows Stock Holdings in Kimco Realty Corporation $KIM

Great Lakes Retirement Inc. increased its stake in shares of Kimco Realty Corporation (NYSE:KIM) by 142.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,629 shares of the real estate investment trust’s stock after purchasing an additional 83,722 shares during the period. Great Lakes Retirement Inc.’s holdings in Kimco Realty were worth $2,998,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new position in shares of Kimco Realty during the second quarter valued at approximately $27,000. AlphaQuest LLC purchased a new position in shares of Kimco Realty during the first quarter valued at approximately $29,000. Keystone Global Partners LLC purchased a new position in shares of Kimco Realty during the first quarter valued at approximately $30,000. GKV Capital Management Co. Inc. purchased a new position in shares of Kimco Realty during the first quarter valued at approximately $38,000. Finally, Olde Wealth Management LLC purchased a new stake in Kimco Realty during the first quarter valued at approximately $41,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

KIM opened at $20.71 on Friday. The firm has a market cap of $14.02 billion, a P/E ratio of 24.95, a PEG ratio of 1.56 and a beta of 1.30. Kimco Realty Corporation has a 1-year low of $17.93 and a 1-year high of $25.83. The company has a 50 day simple moving average of $21.91 and a two-hundred day simple moving average of $21.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.92 and a quick ratio of 3.92.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results 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 business had revenue of $535.86 million during the quarter, compared to analyst estimates of $522.31 million. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Equities analysts forecast that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $0.26 dividend. The ex-dividend date is Friday, December 5th. This is an increase 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 (DPR) is currently 120.48%.

Insider Buying and Selling at Kimco Realty

In other Kimco Realty news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $21.66, for a total value of $500,346.00. Following the completion of the transaction, the director directly owned 40,260 shares in the company, valued at $872,031.60. This represents a 36.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen cut shares of Kimco Realty from a “hold” rating to a “sell” rating in a report on Saturday. Evercore ISI upped their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kimco Realty in a report on Wednesday, October 8th. Wells Fargo & Company assumed coverage on shares of Kimco Realty in a report on Tuesday, October 21st. They set an “equal weight” rating and a $23.00 target price for the company. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Kimco Realty in a report on Tuesday, September 9th. They set a “buy” rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.92.

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.