Inspire Investing LLC purchased a new position in Kimco Realty Corp (NYSE:KIM – Get Rating) in the first quarter, Holdings Channel.com reports. The firm 15,572 shares of the real estate investment trust’s purchased stock, valued at approximately $385,000.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. Its stake grew in shares of Kimco Realty by 5.0% in the fourth quarter. BlackRock Inc. Now owns 55,140,654 shares of the real estate investment trust’s stock worth $1,359,219,000 after acquiring an additional 2,632,139 shares during the period. State Street Corp grew its stake in shares of Kimco Realty by 8.4% in the fourth quarter. State Street Corp now owns 37,094,167 shares of the real estate investment trust’s stock worth $914,371,000 after acquiring an additional 2,882,534 shares during the period. Geode Capital Management LLC grew its stake in shares of Kimco Realty by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 12,617,726 shares of the real estate investment trust’s stock worth $310,586,000 after acquiring an additional 245,905 shares during the period. Daiwa Securities Group Inc. Its stake grew in shares of Kimco Realty by 12.6% in the fourth quarter. Daiwa Securities Group Inc. Now owns 11,226,192 shares of the real estate investment trust’s stock worth $276,725,000 after acquiring an additional 1,252,539 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Kimco Realty by 16.3% in the fourth quarter. Nuveen Asset Management LLC now owns 7,809,131 shares of the real estate investment trust’s stock worth $192,496,000 after acquiring an additional 1,095,362 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.
Several research analysts have weighed in on KIM shares. StockNews.com upgraded shares of Kimco Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Compass Point decreased their target price on Kimco Realty from $27.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, June 22nd. Credit Suisse Group assumed coverage on Kimco Realty in a report on Wednesday, June 22nd. They set an “outperform” rating and a $22.00 price target for the company. Piper Sandler decreased their objective price on Kimco Realty to $25.00 in a research note on Monday. Finally, Jefferies Financial Group cut their objective price on Kimco Realty from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty currently has an average rating of “Moderate Buy” and a consensus price target of $25.47.
Shares of KIM opened at $20.21 on Tuesday. The firm has a market cap of $12.49 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.96 and a beta of 1.40. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.68 and a quick ratio of 2.68. Kimco Realty Corp has a 1 year low of $18.52 and a 1 year high of $26.57. The company has a 50 day simple moving average of $22.16 and a two-hundred day simple moving average of $23.52.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Thursday, June 9th were given a dividend of $0.20 per share. This is a positive change from Kimco Realty’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, June 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.96%. Kimco Realty’s dividend payout ratio is currently 48.19%.
In other Kimco Realty news, CFO Glenn Gary Cohen sold 10,000 shares of Kimco Realty stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $25.07, for a total value of $250,700.00. Following the sale, the chief financial officer now directly owns 486,240 shares in the company, valued at approximately $12,190,036.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.
Kimco Realty Profile (Get Rating)
Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, NY, 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 US shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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