Duff & Phelps Investment Management Co. Acquires 368,900 Shares of Kimco Realty Corporation $KIM

Duff & Phelps Investment Management Co. boosted its holdings in shares of Kimco Realty Corporation (NYSE:KIM) by 78.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 839,451 shares of the real estate investment trust’s stock after buying an additional 368,900 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Kimco Realty were worth $18,342,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KIM. Quent Capital LLC acquired a new position in shares of Kimco Realty during the third quarter valued at about $27,000. City Holding Co. acquired a new stake in shares of Kimco Realty in the 3rd quarter worth about $30,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Kimco Realty in the 2nd quarter worth about $37,000. Lavaca Capital LLC lifted its position in Kimco Realty by 869.5% in the 2nd quarter. Lavaca Capital LLC now owns 1,939 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,739 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in Kimco Realty in the 2nd quarter valued at about $42,000. 89.25% of the stock is owned by institutional investors.

Kimco Realty Trading Up 0.1%

NYSE:KIM opened at $23.18 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.31 and a current ratio of 3.31. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.30 and a beta of 1.04. Kimco Realty Corporation has a 52 week low of $17.93 and a 52 week high of $23.91. The firm has a 50-day moving average price of $21.82 and a two-hundred day moving average price of $21.40.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, March 6th. Kimco Realty’s dividend payout ratio (DPR) is presently 128.40%.

Wall Street Analyst Weigh In

A number of brokerages have commented on KIM. Morgan Stanley set a $23.50 price objective on Kimco Realty in a report on Monday, January 5th. Weiss Ratings upgraded Kimco Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 5th. Piper Sandler upped their price target on Kimco Realty from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Evercore set a $24.00 price target on Kimco Realty in a research report on Friday, February 13th. Finally, Citigroup dropped their price objective on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.23.

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.