Lord Abbett & CO. LLC Invests $17.64 Million in Kimco Realty Corp (NYSE:KIM)

Lord Abbett & CO. LLC bought a new stake in shares of Kimco Realty Corp (NYSE:KIM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 759,512 shares of the real estate investment trust’s stock, valued at approximately $17,636,000. Lord Abbett & CO. LLC owned approximately 0.11% of Kimco Realty as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of KIM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Kimco Realty by 842.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,262,687 shares of the real estate investment trust’s stock valued at $145,420,000 after purchasing an additional 5,598,091 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Kimco Realty by 43.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,943,646 shares of the real estate investment trust’s stock valued at $154,583,000 after buying an additional 2,400,752 shares during the last quarter. FMR LLC grew its holdings in Kimco Realty by 6.1% during the 3rd quarter. FMR LLC now owns 22,339,918 shares of the real estate investment trust’s stock valued at $518,733,000 after buying an additional 1,283,352 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Kimco Realty by 11.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 11,394,650 shares of the real estate investment trust’s stock worth $221,740,000 after acquiring an additional 1,193,600 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Kimco Realty by 71.5% during the 2nd quarter. Sei Investments Co. now owns 2,792,649 shares of the real estate investment trust’s stock worth $54,345,000 after acquiring an additional 1,164,029 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Price Performance

Shares of KIM stock opened at $24.61 on Monday. The stock’s 50-day moving average is $24.50 and its 200 day moving average is $22.43. Kimco Realty Corp has a 1-year low of $17.57 and a 1-year high of $25.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.59 and a quick ratio of 3.59. The company has a market cap of $16.59 billion, a P/E ratio of 44.75, a PEG ratio of 3.20 and a beta of 1.50.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.22). Kimco Realty had a return on equity of 3.68% and a net margin of 19.58%. The firm had revenue of $507.63 million for the quarter, compared to the consensus estimate of $502.78 million. During the same quarter last year, the firm earned $0.40 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. Research analysts predict that Kimco Realty Corp will post 1.64 earnings per share for the current fiscal year.

Kimco Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 5th. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.06%. Kimco Realty’s dividend payout ratio is currently 181.82%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Kimco Realty from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. UBS Group upped their target price on shares of Kimco Realty from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their price target on Kimco Realty from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Robert W. Baird upped their price objective on Kimco Realty from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI raised their price objective on Kimco Realty from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and an average target price of $24.70.

Kimco Realty Profile

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.