Ilmarinen Mutual Pension Insurance Co Takes $1.98 Million Position in Kimco Realty Corp (NYSE:KIM)

Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of Kimco Realty Corp (NYSE:KIM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 84,500 shares of the real estate investment trust’s stock, valued at approximately $1,980,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in Kimco Realty by 4.3% in the third quarter. Rockefeller Capital Management L.P. now owns 23,827 shares of the real estate investment trust’s stock valued at $552,000 after buying an additional 988 shares during the period. Captrust Financial Advisors increased its holdings in shares of Kimco Realty by 3.4% during the 3rd quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock worth $340,000 after acquiring an additional 482 shares during the last quarter. Holocene Advisors LP bought a new stake in Kimco Realty in the 3rd quarter valued at $303,000. Investment Management Corp of Ontario lifted its holdings in Kimco Realty by 49.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 22,362 shares of the real estate investment trust’s stock valued at $519,000 after purchasing an additional 7,400 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Kimco Realty during the third quarter worth $1,074,000. 89.25% of the stock is owned by institutional investors.

Kimco Realty Stock Down 3.7 %

KIM stock opened at $19.33 on Friday. The company has a market cap of $13.14 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. Kimco Realty Corp has a 52 week low of $17.57 and a 52 week high of $25.83. The business has a 50-day simple moving average of $21.57 and a 200 day simple moving average of $23.01.

Kimco Realty (NYSE:KIM) last issued its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a net margin of 20.17% and a return on equity of 3.82%. Sell-side analysts anticipate that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend was Friday, March 7th. Kimco Realty’s dividend payout ratio is presently 178.57%.

Analyst Upgrades and Downgrades

KIM has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Citigroup cut their price objective on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Evercore ISI decreased their target price on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Mizuho dropped their price target on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Jefferies Financial Group downgraded Kimco Realty from a “buy” rating to a “hold” rating and reduced their price target for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.75.

Kimco Realty Company 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.