Strategic Investment Advisors MI Buys New Shares in Kimco Realty Corporation $KIM

Strategic Investment Advisors MI purchased a new position in shares of Kimco Realty Corporation (NYSE:KIM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 28,421 shares of the real estate investment trust’s stock, valued at approximately $639,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in shares of Kimco Realty by 1.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust’s stock valued at $663,000 after buying an additional 503 shares in the last quarter. Parallel Advisors LLC boosted its stake in Kimco Realty by 11.2% in the third quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 520 shares in the last quarter. EPG Wealth Management LLC grew its position in Kimco Realty by 1.8% during the fourth quarter. EPG Wealth Management LLC now owns 30,771 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 530 shares during the last quarter. Root Financial Partners LLC grew its position in Kimco Realty by 60.7% during the first quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 546 shares during the last quarter. Finally, Norinchukin Bank The raised its stake in shares of Kimco Realty by 0.8% during the third quarter. Norinchukin Bank The now owns 73,337 shares of the real estate investment trust’s stock worth $1,602,000 after acquiring an additional 603 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

KIM stock opened at $25.49 on Friday. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.86 and a beta of 0.95. The firm’s 50-day moving average price is $25.11 and its two-hundred day moving average price is $23.53. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.78. Kimco Realty Corporation has a 12-month low of $19.76 and a 12-month high of $26.65.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Kimco Realty from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Wolfe Research raised shares of Kimco Realty from a “peer perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research note on Monday, June 22nd. Jefferies Financial Group upgraded shares of Kimco Realty to a “hold” rating in a research report on Friday, June 26th. Raymond James Financial reiterated a “strong-buy” rating and issued a $29.00 price objective on shares of Kimco Realty in a report on Monday, June 29th. Finally, Barclays increased their target price on Kimco Realty from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One equities research 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 MarketBeat.com, Kimco Realty has an average rating of “Moderate Buy” and an average price target of $26.12.

About Kimco Realty

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.