Hazelview Securities Inc. Decreases Stake in Kimco Realty Corp (NYSE:KIM)

Hazelview Securities Inc. trimmed its holdings in Kimco Realty Corp (NYSE:KIM) by 43.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 464,320 shares of the real estate investment trust’s stock after selling 356,380 shares during the period. Kimco Realty comprises about 1.7% of Hazelview Securities Inc.’s portfolio, making the stock its 22nd largest holding. Hazelview Securities Inc.’s holdings in Kimco Realty were worth $8,864,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Kimco Realty in the 4th quarter worth $150,326,000. JPMorgan Chase & Co. raised its holdings in Kimco Realty by 23.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust’s stock worth $547,401,000 after purchasing an additional 5,894,446 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Kimco Realty during the 4th quarter valued at about $84,678,000. Cohen & Steers Inc. raised its position in shares of Kimco Realty by 7.3% during the 4th quarter. Cohen & Steers Inc. now owns 44,190,222 shares of the real estate investment trust’s stock valued at $941,817,000 after buying an additional 3,022,995 shares in the last quarter. Finally, PGGM Investments bought a new stake in shares of Kimco Realty in the 4th quarter worth about $46,323,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Stock Up 0.1 %

Kimco Realty stock traded up $0.01 during trading hours on Wednesday, reaching $18.77. The stock had a trading volume of 1,233,096 shares, compared to its average volume of 4,966,685. Kimco Realty Corp has a 52 week low of $16.34 and a 52 week high of $22.83. The business’s 50 day moving average price is $18.78 and its 200-day moving average price is $19.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 3.63 and a beta of 1.50.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Thursday, June 6th. Kimco Realty’s payout ratio is presently 181.14%.

Analyst Upgrades and Downgrades

Several research firms recently commented on KIM. Robert W. Baird reduced their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 4th. Truist Financial reduced their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, May 20th. Citigroup reiterated a “neutral” rating and issued a $20.00 price target (down previously from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Bank of America reaffirmed a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Finally, Mizuho lowered their target price 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.