Federated Hermes Inc. Buys 2,280,090 Shares of Kimco Realty Corporation $KIM

Federated Hermes Inc. boosted its position in Kimco Realty Corporation (NYSE:KIM) by 27.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,649,864 shares of the real estate investment trust’s stock after purchasing an additional 2,280,090 shares during the period. Federated Hermes Inc.’s holdings in Kimco Realty were worth $232,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp lifted its position in shares of Kimco Realty by 7.5% during the 3rd quarter. Truist Financial Corp now owns 16,689 shares of the real estate investment trust’s stock valued at $365,000 after buying an additional 1,160 shares during the last quarter. EPG Wealth Management LLC increased its holdings in Kimco Realty by 4.5% in the 3rd quarter. EPG Wealth Management LLC now owns 30,241 shares of the real estate investment trust’s stock worth $661,000 after acquiring an additional 1,307 shares during the last quarter. Paragon Private Wealth Management LLC raised its stake in Kimco Realty by 56.3% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 18,008 shares of the real estate investment trust’s stock valued at $393,000 after acquiring an additional 6,486 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Kimco Realty by 6.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 74,674 shares of the real estate investment trust’s stock valued at $1,632,000 after purchasing an additional 4,615 shares during the last quarter. Finally, Algebris UK Ltd. bought a new position in Kimco Realty during the third quarter worth about $16,344,000. 89.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

KIM has been the topic of several research reports. Truist Financial lowered their price target on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. Scotiabank lowered their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, November 13th. Wells Fargo & Company dropped their target price on Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, December 15th. UBS Group reduced their price target on Kimco Realty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Argus reiterated a “buy” rating and set a $27.00 price objective on shares of Kimco Realty in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kimco Realty presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.89.

Kimco Realty Stock Performance

NYSE KIM opened at $20.95 on Wednesday. The company’s 50 day simple moving average is $20.42 and its two-hundred day simple moving average is $21.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.59 and a quick ratio of 3.59. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $23.65. The stock has a market capitalization of $14.19 billion, a PE ratio of 25.24, a P/E/G ratio of 1.14 and a beta of 1.05.

Kimco Realty (NYSE:KIM) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.24% and a return on equity of 5.60%. The firm had revenue of $535.86 million for the quarter, compared to analysts’ expectations of $522.31 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Kimco Realty has set its FY 2025 guidance at 1.750-1.760 EPS. Analysts predict that Kimco Realty Corporation will post 1.71 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.26 per share. This is a boost from Kimco Realty’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, December 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.0%. Kimco Realty’s dividend payout ratio is 125.30%.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.