Oppenheimer Asset Management Inc. Makes New Investment in Kimco Realty Corporation $KIM

Oppenheimer Asset Management Inc. acquired a new position in shares of Kimco Realty Corporation (NYSE:KIM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 62,976 shares of the real estate investment trust’s stock, valued at approximately $1,596,000.

A number of other large investors have also modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in Kimco Realty by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 30,335 shares of the real estate investment trust’s stock worth $663,000 after buying an additional 503 shares in the last quarter. Parallel Advisors LLC increased its holdings in Kimco Realty by 11.2% in the 3rd quarter. Parallel Advisors LLC now owns 5,176 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 520 shares during the period. EPG Wealth Management LLC raised its stake in shares of Kimco Realty by 1.8% in the 4th quarter. EPG Wealth Management LLC now owns 30,771 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 530 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of Kimco Realty by 60.7% in the 1st quarter. Root Financial Partners LLC now owns 1,446 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 546 shares in the last quarter. Finally, Norinchukin Bank The lifted its holdings in shares of Kimco Realty by 0.8% during the 3rd quarter. Norinchukin Bank The now owns 73,337 shares of the real estate investment trust’s stock worth $1,602,000 after acquiring an additional 603 shares during the period. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Stock Down 0.1%

Shares of NYSE:KIM opened at $24.40 on Monday. Kimco Realty Corporation has a 52 week low of $19.76 and a 52 week high of $26.65. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.23 and a current ratio of 5.23. The company’s fifty day moving average is $25.23 and its 200-day moving average is $23.82. The company has a market capitalization of $16.37 billion, a PE ratio of 28.70, a P/E/G ratio of 2.60 and a beta of 0.95.

Kimco Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Friday, September 4th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.12 annualized dividend and a yield of 4.6%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.26. Kimco Realty’s payout ratio is 122.35%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Kimco Realty from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Truist Financial raised their price target on shares of Kimco Realty from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Scotiabank lifted their price objective on Kimco Realty from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Wells Fargo & Company upped their price objective on Kimco Realty from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Wolfe Research raised Kimco Realty from a “peer perform” rating to an “outperform” rating and set a $28.00 target price for the company in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty currently has an average rating of “Moderate Buy” and an average price target of $26.50.

About Kimco Realty

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.