Korea Investment CORP Takes Position in Kimco Realty Corporation $KIM

Korea Investment CORP purchased a new position in Kimco Realty Corporation (NYSE:KIM) during the 2nd quarter, HoldingsChannel reports. The fund purchased 1,295,340 shares of the real estate investment trust’s stock, valued at approximately $32,837,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Kimco Realty by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 19,141,842 shares of the real estate investment trust’s stock valued at $386,617,000 after buying an additional 223,936 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Kimco Realty by 7.5% in the 4th quarter. Legal & General Group Plc now owns 6,323,989 shares of the real estate investment trust’s stock worth $128,187,000 after acquiring an additional 443,046 shares during the last quarter. Strs Ohio increased its stake in shares of Kimco Realty by 566.3% in the 1st quarter. Strs Ohio now owns 722,282 shares of the real estate investment trust’s stock worth $16,230,000 after acquiring an additional 613,876 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Kimco Realty by 9.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 539,577 shares of the real estate investment trust’s stock worth $10,937,000 after acquiring an additional 48,672 shares during the period. Finally, First Bank & Trust raised its holdings in shares of Kimco Realty by 406.9% during the 2nd quarter. First Bank & Trust now owns 52,228 shares of the real estate investment trust’s stock worth $1,324,000 after acquiring an additional 41,925 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Kimco Realty from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Raymond James Financial restated a “strong-buy” rating and set a $29.00 price objective on shares of Kimco Realty in a research report on Monday, June 29th. Wall Street Zen raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a research note on Sunday, April 26th. Wells Fargo & Company boosted their target price on shares of Kimco Realty from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Evercore set a $25.00 price target on shares of Kimco Realty in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Kimco Realty Price Performance

NYSE:KIM opened at $24.03 on Friday. Kimco Realty Corporation has a 52 week low of $19.76 and a 52 week high of $26.65. The stock’s fifty day moving average is $25.12 and its two-hundred day moving average is $23.92. The company has a market capitalization of $16.12 billion, a P/E ratio of 28.27, a P/E/G ratio of 2.56 and a beta of 0.95. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.84.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.26. The business had revenue of $550.80 million during the quarter, compared to analysts’ expectations of $543.75 million. Kimco Realty had a return on equity of 5.76% and a net margin of 27.76%.The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. Kimco Realty has set its FY 2026 guidance at 1.830-1.840 EPS. Equities analysts expect that Kimco Realty Corporation will post 1.84 EPS for the current year.

Kimco Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, September 4th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Kimco Realty’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 4.7%. Kimco Realty’s dividend payout ratio is currently 122.35%.

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.