Federated Hermes Inc. Acquires 3,457,435 Shares of Kimco Realty Corp (NYSE:KIM)

Federated Hermes Inc. lifted its holdings in Kimco Realty Corp (NYSE:KIM) by 90.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,278,480 shares of the real estate investment trust’s stock after buying an additional 3,457,435 shares during the quarter. Federated Hermes Inc.’s holdings in Kimco Realty were worth $170,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Captrust Financial Advisors increased its stake in Kimco Realty by 3.4% in the third quarter. Captrust Financial Advisors now owns 14,657 shares of the real estate investment trust’s stock worth $340,000 after purchasing an additional 482 shares during the period. Keybank National Association OH lifted its holdings in Kimco Realty by 4.0% during the 4th quarter. Keybank National Association OH now owns 13,033 shares of the real estate investment trust’s stock valued at $305,000 after buying an additional 496 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in Kimco Realty by 4.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,839 shares of the real estate investment trust’s stock valued at $301,000 after buying an additional 539 shares during the period. Coldstream Capital Management Inc. grew its stake in 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 in the last quarter. Finally, Pitcairn Co. increased its position in shares of Kimco Realty by 4.0% during the fourth quarter. Pitcairn Co. now owns 14,568 shares of the real estate investment trust’s stock worth $341,000 after acquiring an additional 567 shares during the period. 89.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KIM has been the topic of several research analyst reports. Mizuho dropped their price objective on Kimco Realty from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Wells Fargo & Company cut their price target on 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. Evercore ISI lowered their price objective on shares of Kimco Realty from $24.00 to $23.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Jefferies Financial Group downgraded shares of Kimco Realty from a “buy” rating to a “hold” rating and cut their target price for the company from $28.00 to $25.00 in a research report on Thursday, January 2nd. Finally, Scotiabank dropped their price objective on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Nine 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.75.

Kimco Realty Stock Performance

Shares of KIM stock opened at $19.33 on Friday. The company has a current ratio of 3.65, a quick ratio of 3.59 and a debt-to-equity ratio of 0.78. The company has a market cap of $13.14 billion, a PE ratio of 34.52, a PEG 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. The business’s fifty day simple moving average is $21.57 and its 200-day simple moving average is $23.01.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 EPS 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 earnings per share for the current fiscal year.

Kimco Realty Dividend Announcement

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