Kimco Realty Corp (NYSE:KIM) Position Increased by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its position in shares of Kimco Realty Corp (NYSE:KIM) by 238.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,431,356 shares of the real estate investment trust’s stock after buying an additional 1,008,956 shares during the quarter. 1832 Asset Management L.P.’s holdings in Kimco Realty were worth $28,069,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of KIM. Canada Pension Plan Investment Board purchased a new stake in shares of Kimco Realty during the first quarter worth $200,043,000. Vanguard Group Inc. raised its holdings in shares of Kimco Realty by 7.7% during the first quarter. Vanguard Group Inc. now owns 110,267,579 shares of the real estate investment trust’s stock worth $2,162,347,000 after acquiring an additional 7,931,013 shares in the last quarter. Norges Bank purchased a new stake in shares of Kimco Realty during the fourth quarter worth $150,326,000. Centersquare Investment Management LLC raised its holdings in shares of Kimco Realty by 76.8% during the first quarter. Centersquare Investment Management LLC now owns 14,467,600 shares of the real estate investment trust’s stock worth $269,531,000 after acquiring an additional 6,282,891 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Kimco Realty during the fourth quarter valued at about $84,678,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Price Performance

NYSE KIM traded up $0.45 during trading on Friday, reaching $21.19. 3,309,113 shares of the company traded hands, compared to its average volume of 4,004,893. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.86 and a current ratio of 1.86. The stock’s 50 day moving average price is $19.46 and its two-hundred day moving average price is $19.39. The company has a market cap of $14.28 billion, a price-to-earnings ratio of 39.98, a P/E/G ratio of 4.08 and a beta of 1.51. Kimco Realty Corp has a 1-year low of $16.34 and a 1-year high of $22.83.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Thursday, June 6th. Kimco Realty’s dividend payout ratio (DPR) is currently 181.14%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America restated a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Mizuho lowered their price target on Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Robert W. Baird decreased their target price on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Finally, Truist Financial decreased their target price on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.52.

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.