Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Kimco Realty Corp (NYSE:KIM) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 840,924 shares of the real estate investment trust’s stock after selling 7,018 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.20% of Kimco Realty worth $16,440,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Penserra Capital Management LLC bought a new position in shares of Kimco Realty in the 3rd quarter valued at about $105,000. Pacer Advisors Inc. boosted its stake in shares of Kimco Realty by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,219 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 790 shares during the last quarter. Eqis Capital Management Inc. bought a new position in shares of Kimco Realty in the 3rd quarter valued at about $201,000. Stoneridge Investment Partners LLC bought a new position in shares of Kimco Realty in the 3rd quarter valued at about $203,000. Finally, Carnegie Capital Asset Management LLC bought a new position in shares of Kimco Realty in the 2nd quarter valued at about $204,000. 92.22% of the stock is currently owned by institutional investors.
Shares of Kimco Realty Corp (NYSE KIM) traded up $0.14 during trading hours on Friday, hitting $18.29. 2,140,000 shares of the company were exchanged, compared to its average volume of 4,056,643. The firm has a market cap of $7,785.19, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 2.18 and a beta of 0.65. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty Corp has a 1-year low of $17.02 and a 1-year high of $26.63.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.28 per share. This is an increase from Kimco Realty’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend is Friday, December 29th. Kimco Realty’s dividend payout ratio (DPR) is 125.58%.
A number of analysts recently weighed in on KIM shares. BMO Capital Markets started coverage on shares of Kimco Realty in a research report on Monday, September 11th. They issued a “market perform” rating and a $21.00 price target on the stock. Boenning Scattergood reiterated a “hold” rating on shares of Kimco Realty in a research report on Friday, October 27th. Mizuho reiterated a “hold” rating and issued a $19.00 price target on shares of Kimco Realty in a research report on Monday, October 9th. Robert W. Baird downgraded shares of Kimco Realty from an “outperform” rating to a “neutral” rating and cut their price target for the company from $23.00 to $20.00 in a research report on Monday, November 27th. Finally, Citigroup increased their price target on shares of Kimco Realty from $19.50 to $21.00 and gave the company a “neutral” rating in a research report on Monday, August 14th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Kimco Realty currently has an average rating of “Hold” and an average target price of $23.02.
In related news, insider Milton Cooper bought 50,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were purchased at an average cost of $19.20 per share, for a total transaction of $960,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.
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Kimco Realty Profile
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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