Federated Hermes Inc. Has $175.93 Million Stock Position in Kimco Realty Corporation $KIM

Federated Hermes Inc. increased its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 15.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,369,774 shares of the real estate investment trust’s stock after buying an additional 1,124,125 shares during the quarter. Federated Hermes Inc.’s holdings in Kimco Realty were worth $175,933,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in Kimco Realty during the second quarter worth about $175,963,000. Amundi boosted its stake in shares of Kimco Realty by 54.2% in the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust’s stock valued at $186,646,000 after purchasing an additional 3,253,031 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Kimco Realty by 14.7% during the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust’s stock valued at $423,441,000 after purchasing an additional 2,552,276 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Kimco Realty during the 2nd quarter worth approximately $14,618,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Kimco Realty in the 2nd quarter valued at approximately $13,358,000. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Price Performance

Shares of NYSE:KIM opened at $20.12 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.59 and a current ratio of 3.59. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $25.26. The firm has a market cap of $13.62 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The firm’s fifty day moving average is $21.00 and its 200-day moving average is $21.32.

Kimco Realty (NYSE:KIM) last announced its earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 5.60% and a net margin of 28.24%.Kimco Realty’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Sell-side analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current year.

Kimco Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.2%. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, December 5th. Kimco Realty’s dividend payout ratio is 120.48%.

Insider Activity at Kimco Realty

In related news, Director Mary Hogan Preusse sold 23,100 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $21.66, for a total value of $500,346.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on KIM shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kimco Realty in a research note on Wednesday, October 8th. Barclays increased their price target on Kimco Realty from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Argus restated a “buy” rating and set a $27.00 price objective on shares of Kimco Realty in a research report on Monday, December 1st. LADENBURG THALM/SH SH assumed coverage on Kimco Realty in a report on Tuesday, September 9th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Mizuho lifted their price target on Kimco Realty from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.50.

Kimco Realty Profile

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.