Kimco Realty Corporation $KIM Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Kimco Realty Corporation (NYSE:KIM) in the 3rd quarter, HoldingsChannel reports. The fund bought 195,487 shares of the real estate investment trust’s stock, valued at approximately $4,342,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KIM. Profund Advisors LLC boosted its stake in Kimco Realty by 41.3% during the 3rd quarter. Profund Advisors LLC now owns 12,470 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 3,647 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Kimco Realty by 7.3% in the third quarter. ProShare Advisors LLC now owns 195,397 shares of the real estate investment trust’s stock worth $4,340,000 after purchasing an additional 13,346 shares during the last quarter. MGO One Seven LLC raised its stake in shares of Kimco Realty by 4.9% in the third quarter. MGO One Seven LLC now owns 11,018 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 511 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Kimco Realty by 2.9% in the third quarter. Raleigh Capital Management Inc. now owns 60,079 shares of the real estate investment trust’s stock valued at $1,334,000 after purchasing an additional 1,721 shares in the last quarter. Finally, Soltis Investment Advisors LLC bought a new position in shares of Kimco Realty in the third quarter valued at approximately $4,797,000. 89.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on KIM shares. Piper Sandler raised their price objective on Kimco Realty from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Mizuho dropped their price target on shares of Kimco Realty from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 24th. UBS Group dropped their price target on shares of Kimco Realty from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. JPMorgan Chase & Co. boosted their price target on shares of Kimco Realty from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 25th. Finally, Morgan Stanley increased their price target on Kimco Realty from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.88.

Kimco Realty Stock Performance

NYSE KIM traded down $0.12 on Friday, hitting $25.51. 7,443,772 shares of the stock traded hands, compared to its average volume of 5,646,454. The business’s fifty day moving average is $23.20 and its two-hundred day moving average is $23.62. Kimco Realty Corporation has a 12 month low of $19.76 and a 12 month high of $26.65. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.84 and a beta of 0.91. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.81 and a current ratio of 3.81.

Kimco Realty (NYSE:KIM) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $546.15 million during the quarter, compared to the consensus estimate of $549.06 million. Kimco Realty had a return on equity of 7.16% and a net margin of 34.06%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. As a group, equities analysts anticipate that Kimco Realty Corporation will post 1.85 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, December 4th. This represents a $1.12 annualized dividend and a dividend yield of 4.4%. Kimco Realty’s dividend payout ratio is presently 104.67%.

Kimco Realty Company Profile

Kimco Realty Corporation is a real estate investment trust that owns, operates and develops open-air, grocery-anchored shopping centers and mixed-use properties in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores, restaurants, service businesses, retailers and other essential tenants.

The company’s portfolio is concentrated in major metropolitan areas and high-density communities, with a focus on locations that offer convenient access, strong surrounding demographics and complementary tenant mixes.