Ilmarinen Mutual Pension Insurance Co Invests $1.98 Million in Kimco Realty Corp (NYSE:KIM)

Ilmarinen Mutual Pension Insurance Co acquired a new stake in Kimco Realty Corp (NYSE:KIM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 84,500 shares of the real estate investment trust’s stock, valued at approximately $1,980,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Asset Management One Co. Ltd. lifted its stake in shares of Kimco Realty by 1.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,235,249 shares of the real estate investment trust’s stock valued at $28,868,000 after purchasing an additional 12,705 shares during the period. Lord Abbett & CO. LLC bought a new stake in Kimco Realty in the third quarter valued at about $17,636,000. B&I Capital AG lifted its stake in Kimco Realty by 13.9% in the fourth quarter. B&I Capital AG now owns 509,830 shares of the real estate investment trust’s stock valued at $11,945,000 after buying an additional 62,100 shares during the period. Nordea Investment Management AB boosted its holdings in Kimco Realty by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock worth $1,319,000 after buying an additional 3,614 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Kimco Realty during the 4th quarter worth about $1,045,000. 89.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on KIM shares. Wells Fargo & Company reduced their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price target on shares of Kimco Realty from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Mizuho lowered their price objective on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Citigroup reduced their target price on Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Finally, Scotiabank lowered their price target on Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.75.

Kimco Realty Price Performance

NYSE KIM opened at $19.33 on Friday. The firm’s 50 day moving average is $21.57 and its 200-day moving average is $23.01. The company has a quick ratio of 3.59, a current ratio of 3.65 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $13.14 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.25. Kimco Realty Corp has a 12-month low of $17.57 and a 12-month high of $25.83.

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

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.00 annualized dividend and a yield of 5.17%. Kimco Realty’s dividend payout ratio (DPR) is presently 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.