State of New Jersey Common Pension Fund D Lowers Stock Position in Kimco Realty Corp (NYSE:KIM)

State of New Jersey Common Pension Fund D cut its position in shares of Kimco Realty Corp (NYSE:KIM) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 869,947 shares of the real estate investment trust’s stock after selling 10,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.13% of Kimco Realty worth $20,383,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new position in Kimco Realty during the third quarter worth $17,636,000. Nordea Investment Management AB raised its position in shares of Kimco Realty by 6.9% in the fourth quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock valued at $1,319,000 after buying an additional 3,614 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Kimco Realty in the third quarter valued at about $2,387,000. Victory Capital Management Inc. raised its position in shares of Kimco Realty by 48.8% in the third quarter. Victory Capital Management Inc. now owns 836,427 shares of the real estate investment trust’s stock valued at $19,422,000 after buying an additional 274,295 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Kimco Realty by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,480,254 shares of the real estate investment trust’s stock valued at $220,131,000 after buying an additional 405,685 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group lifted their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company reduced their target price on shares of Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. downgraded shares of Kimco Realty from an “overweight” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Friday, December 20th. Jefferies Financial Group downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and reduced their target price for the stock from $28.00 to $25.00 in a research note on Thursday, January 2nd. Finally, Mizuho lifted their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus price target of $24.97.

Kimco Realty Stock Down 2.6 %

KIM stock opened at $21.85 on Tuesday. Kimco Realty Corp has a twelve month low of $17.57 and a twelve month high of $25.83. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $14.73 billion, a P/E ratio of 39.72, a PEG ratio of 2.92 and a beta of 1.50. The firm has a 50 day simple moving average of $22.85 and a 200-day simple moving average of $23.39.

Kimco Realty (NYSE:KIM) last announced its quarterly earnings data on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. On average, equities research analysts predict that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, March 7th. Kimco Realty’s dividend payout ratio is currently 181.82%.

About Kimco Realty

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.