1832 Asset Management L.P. Increases Stake in Kimco Realty Corp (NYSE:KIM)

1832 Asset Management L.P. grew its holdings in Kimco Realty Corp (NYSE:KIM) by 238.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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. owned 0.21% of Kimco Realty worth $28,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Kimco Realty during the fourth quarter worth $27,000. Headlands Technologies LLC acquired a new position in Kimco Realty during the fourth quarter worth $27,000. Principal Securities Inc. acquired a new position in Kimco Realty during the fourth quarter worth $29,000. Criterion Capital Advisors LLC acquired a new position in Kimco Realty during the fourth quarter worth $33,000. Finally, Fidelis Capital Partners LLC acquired a new position in Kimco Realty during the first quarter worth $70,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Up 2.2 %

KIM stock traded up $0.45 during mid-day trading on Friday, reaching $21.19. The company had a trading volume of 3,309,113 shares, 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 company has a market capitalization of $14.28 billion, a price-to-earnings ratio of 39.98, a price-to-earnings-growth ratio of 4.08 and a beta of 1.51. The firm has a fifty day simple moving average of $19.46 and a 200 day simple moving average of $19.39. Kimco Realty Corp has a fifty-two week low of $16.34 and a fifty-two week high of $22.83.

Kimco Realty Dividend Announcement

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

Wall Street Analyst Weigh In

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

Kimco Realty Company 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.