Cornercap Investment Counsel Inc. Sells 582 Shares of Kimco Realty Corp (NYSE:KIM)

Cornercap Investment Counsel Inc. cut its stake in shares of Kimco Realty Corp (NYSE:KIM) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,528 shares of the real estate investment trust’s stock after selling 582 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Kimco Realty were worth $364,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Asset Management One Co. Ltd. lifted its position in shares of Kimco Realty by 1.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,235,249 shares of the real estate investment trust’s stock valued at $28,868,000 after buying an additional 12,705 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Kimco Realty in the 3rd quarter worth $17,636,000. B&I Capital AG increased its stake in Kimco Realty by 13.9% in the 4th quarter. B&I Capital AG now owns 509,830 shares of the real estate investment trust’s stock worth $11,945,000 after buying an additional 62,100 shares in the last quarter. Nordea Investment Management AB raised its holdings in Kimco Realty by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 56,244 shares of the real estate investment trust’s stock valued at $1,319,000 after acquiring an additional 3,614 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Kimco Realty in the fourth quarter valued at about $1,045,000. Institutional investors own 89.25% of the company’s stock.

Analysts Set New Price Targets

KIM has been the topic of several recent analyst reports. Evercore ISI decreased their target price on Kimco Realty from $24.00 to $23.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Jefferies Financial Group lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and cut their price objective for the company from $28.00 to $25.00 in a report on Thursday, January 2nd. Scotiabank lowered their target price on shares of Kimco Realty from $26.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Mizuho cut their target price on shares of Kimco Realty from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Citigroup reduced their price target on shares of Kimco Realty from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Ten analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.43.

Kimco Realty Stock Down 0.4 %

Shares of NYSE KIM opened at $20.94 on Friday. Kimco Realty Corp has a 52-week low of $17.57 and a 52-week high of $25.83. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.78 and a beta of 1.53. The stock has a 50 day moving average price of $21.76 and a 200 day moving average price of $23.12. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.65.

Kimco Realty (NYSE:KIM) last posted its quarterly earnings results on Friday, February 7th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Kimco Realty had a return on equity of 3.82% and a net margin of 20.17%. Sell-side analysts expect that Kimco Realty Corp will post 1.71 earnings per share for the current year.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.25 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.78%. Kimco Realty’s payout ratio is presently 178.57%.

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.