Principal Financial Group Inc. Acquires 259,426 Shares of Kimco Realty Corp (NYSE:KIM)

Principal Financial Group Inc. boosted its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,389,023 shares of the real estate investment trust’s stock after purchasing an additional 259,426 shares during the quarter. Principal Financial Group Inc.’s holdings in Kimco Realty were worth $32,545,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its stake in 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 valued at $340,000 after purchasing an additional 482 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Kimco Realty by 2.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 23,380 shares of the real estate investment trust’s stock worth $544,000 after acquiring an additional 565 shares during the period. Savant Capital LLC lifted its position in shares of Kimco Realty by 4.4% in the 4th quarter. Savant Capital LLC now owns 14,541 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 611 shares during the period. Signaturefd LLC lifted its position in shares of Kimco Realty by 10.2% in the 3rd quarter. Signaturefd LLC now owns 8,441 shares of the real estate investment trust’s stock worth $196,000 after acquiring an additional 783 shares during the period. Finally, Values First Advisors Inc. lifted its position in shares of Kimco Realty by 3.6% in the 4th quarter. Values First Advisors Inc. now owns 27,091 shares of the real estate investment trust’s stock worth $635,000 after acquiring an additional 942 shares during the period. Institutional investors own 89.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KIM. Mizuho raised their price objective on Kimco Realty from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on Kimco Realty from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Evercore ISI reduced their price objective on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. UBS Group raised their price objective on Kimco Realty from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Scotiabank increased their target price on Kimco Realty from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. 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. According to MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Kimco Realty Trading Down 0.5 %

KIM stock opened at $21.52 on Friday. The business has a fifty day moving average price of $22.67 and a 200 day moving average price of $23.37. Kimco Realty Corp has a fifty-two week low of $17.57 and a fifty-two week high of $25.83. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 2.77 and a beta of 1.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.65 and a quick ratio of 3.59.

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

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a yield of 4.65%. Kimco Realty’s dividend payout ratio is 178.57%.

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.