Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in Kimco Realty Corporation $KIM

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Kimco Realty Corporation (NYSE:KIM) by 9.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,173,627 shares of the real estate investment trust’s stock after selling 224,293 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.32% of Kimco Realty worth $47,494,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership purchased a new position in Kimco Realty during the 2nd quarter worth approximately $13,358,000. D.A. Davidson & CO. increased its stake in shares of 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 worth $353,000 after acquiring an additional 6,982 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Kimco Realty during the second quarter worth $332,000. Vinva Investment Management Ltd acquired a new position in Kimco Realty during the second quarter valued at $360,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Kimco Realty in the second quarter valued at $702,000. 89.25% of the stock is owned by institutional investors and hedge funds.

Kimco Realty Stock Up 0.7%

Shares of KIM opened at $20.79 on Friday. The firm has a market cap of $14.08 billion, a P/E ratio of 25.04, a PEG ratio of 1.44 and a beta of 1.05. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $23.65. The stock’s 50 day moving average is $20.34 and its two-hundred day moving average is $21.19. 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 (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, beating analysts’ consensus estimates of $0.43 by $0.01. Kimco Realty had a return on equity of 5.60% and a net margin of 28.24%.The firm had revenue of $535.86 million for the quarter, compared to analyst estimates of $522.31 million. During the same quarter last year, the firm posted $0.43 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.26 per share. 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%. The ex-dividend date of this dividend was Friday, December 5th. Kimco Realty’s dividend payout ratio is presently 125.30%.

Analysts Set New Price Targets

KIM has been the subject of several analyst reports. Argus reissued a “buy” rating and issued a $27.00 price objective on shares of Kimco Realty in a report on Monday, December 1st. Citigroup reduced their price target on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Scotiabank lowered their price objective on 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. Morgan Stanley set a $23.50 target price on shares of Kimco Realty in a report on Monday, January 5th. Finally, UBS Group lowered their price target on shares of Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.04.

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.