Magnetar Financial LLC Makes New Investment in Kimco Realty Corp (NYSE:KIM)

Magnetar Financial LLC purchased a new stake in Kimco Realty Corp (NYSE:KIM) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 144,868 shares of the real estate investment trust’s stock, valued at approximately $2,841,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kentucky Retirement Systems increased its position in Kimco Realty by 1.3% during the 4th quarter. Kentucky Retirement Systems now owns 49,597 shares of the real estate investment trust’s stock valued at $1,057,000 after purchasing an additional 631 shares during the period. Baker Ellis Asset Management LLC lifted its holdings in Kimco Realty by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 129,802 shares of the real estate investment trust’s stock valued at $2,545,000 after buying an additional 680 shares during the period. Quadrant Capital Group LLC boosted its position in Kimco Realty by 17.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 717 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Kimco Realty by 7.2% during the 4th quarter. V Square Quantitative Management LLC now owns 11,788 shares of the real estate investment trust’s stock worth $251,000 after acquiring an additional 794 shares during the period. Finally, CWM LLC grew its holdings in Kimco Realty by 8.3% during the 1st quarter. CWM LLC now owns 11,255 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 867 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Truist Financial dropped their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Robert W. Baird dropped their price target on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 4th. Bank of America reiterated a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Finally, Mizuho dropped their price objective on shares of Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.52.

Kimco Realty Stock Up 2.2 %

KIM traded up $0.45 during mid-day trading on Friday, reaching $21.19. 3,309,113 shares of the stock were exchanged, compared to its average volume of 4,004,893. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $22.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market capitalization of $14.28 billion, a PE ratio of 39.98, a price-to-earnings-growth ratio of 4.08 and a beta of 1.51. The company has a 50 day moving average price of $19.46 and a two-hundred day moving average price of $19.39.

Kimco Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.96 annualized dividend and a yield of 4.53%. Kimco Realty’s dividend payout ratio (DPR) is 181.14%.

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.