The Manufacturers Life Insurance Company Grows Stock Position in Kimco Realty Corporation $KIM

The Manufacturers Life Insurance Company boosted its holdings in Kimco Realty Corporation (NYSE:KIM) by 28.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 548,859 shares of the real estate investment trust’s stock after acquiring an additional 121,294 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Kimco Realty worth $12,333,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Kimco Realty during the fourth quarter worth $215,615,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Kimco Realty by 541.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,304,639 shares of the real estate investment trust’s stock valued at $137,756,000 after purchasing an additional 5,322,009 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Kimco Realty by 34.9% during the 4th quarter. Invesco Ltd. now owns 17,016,898 shares of the real estate investment trust’s stock worth $344,933,000 after purchasing an additional 4,399,959 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Kimco Realty by 200.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,574,515 shares of the real estate investment trust’s stock worth $72,455,000 after purchasing an additional 2,383,236 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Kimco Realty by 77.6% during the 1st quarter. SG Americas Securities LLC now owns 4,308,961 shares of the real estate investment trust’s stock worth $96,822,000 after purchasing an additional 1,883,072 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

KIM stock opened at $25.48 on Monday. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $17.18 billion, a PE ratio of 29.62, a P/E/G ratio of 2.80 and a beta of 0.95. Kimco Realty Corporation has a 12-month low of $19.76 and a 12-month high of $26.65. The business’s fifty day moving average price is $25.14 and its 200 day moving average price is $23.56.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on KIM shares. Piper Sandler boosted their price objective on shares of Kimco Realty from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Stifel Nicolaus set a $28.00 target price on shares of Kimco Realty in a research note on Thursday, June 11th. Jefferies Financial Group upgraded shares of Kimco Realty to a “hold” rating in a research report on Friday, June 26th. Morgan Stanley boosted their price target on shares of Kimco Realty from $23.50 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Finally, UBS Group upped their price objective on shares of Kimco Realty from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and an average price target of $26.12.

Kimco Realty Company 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.