Norges Bank Makes New $363.44 Million Investment in Kimco Realty Corp (NYSE:KIM)

Norges Bank acquired a new stake in shares of Kimco Realty Corp (NYSE:KIM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,511,565 shares of the real estate investment trust’s stock, valued at approximately $363,436,000. Norges Bank owned 2.30% of Kimco Realty as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. NEOS Investment Management LLC increased its position in Kimco Realty by 31.2% during the 4th quarter. NEOS Investment Management LLC now owns 36,583 shares of the real estate investment trust’s stock worth $857,000 after purchasing an additional 8,709 shares in the last quarter. UniSuper Management Pty Ltd increased its position in shares of Kimco Realty by 5.6% in the fourth quarter. UniSuper Management Pty Ltd now owns 277,080 shares of the real estate investment trust’s stock worth $6,492,000 after acquiring an additional 14,806 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Kimco Realty by 12.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,599,995 shares of the real estate investment trust’s stock valued at $37,072,000 after acquiring an additional 178,282 shares during the period. Korea Investment CORP lifted its holdings in shares of Kimco Realty by 8.2% during the 4th quarter. Korea Investment CORP now owns 221,580 shares of the real estate investment trust’s stock valued at $5,192,000 after acquiring an additional 16,700 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in Kimco Realty by 12.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,900 shares of the real estate investment trust’s stock worth $396,000 after purchasing an additional 1,880 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Down 0.4 %

NYSE:KIM opened at $20.94 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 2.78 and a beta of 1.53. Kimco Realty Corp has a one year low of $17.57 and a one year high of $25.83. The stock has a 50-day simple moving average of $21.76 and a 200 day simple moving average of $23.12.

Kimco Realty (NYSE:KIM) last issued its earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Sell-side analysts predict that Kimco Realty Corp will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.78%. Kimco Realty’s dividend payout ratio (DPR) is 178.57%.

Analysts Set New Price Targets

Several research firms have commented on KIM. Mizuho cut their price objective on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Evercore ISI dropped their target price on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. JPMorgan Chase & Co. decreased their price target on Kimco Realty from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and dropped their price objective for the company from $28.00 to $25.00 in a research note on Thursday, January 2nd. Finally, Scotiabank decreased their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus price target of $24.43.

Kimco Realty Company Profile

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.