Cetera Investment Advisers acquired a new stake in Kimco Realty Corp (NYSE:KIM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,011 shares of the real estate investment trust’s stock, valued at approximately $162,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KIM. Commonwealth Equity Services LLC boosted its holdings in shares of Kimco Realty by 7.4% during the third quarter. Commonwealth Equity Services LLC now owns 71,150 shares of the real estate investment trust’s stock worth $1,191,000 after acquiring an additional 4,906 shares during the period. MML Investors Services LLC bought a new stake in shares of Kimco Realty during the third quarter worth approximately $185,000. Alliancebernstein L.P. boosted its holdings in shares of Kimco Realty by 10.0% during the third quarter. Alliancebernstein L.P. now owns 1,006,037 shares of the real estate investment trust’s stock worth $16,841,000 after acquiring an additional 91,257 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Kimco Realty by 66.1% during the third quarter. Janus Henderson Group PLC now owns 169,844 shares of the real estate investment trust’s stock worth $2,844,000 after acquiring an additional 67,614 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Kimco Realty by 15.5% during the third quarter. Bank of New York Mellon Corp now owns 16,110,958 shares of the real estate investment trust’s stock worth $269,698,000 after acquiring an additional 2,161,479 shares during the period. 87.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of KIM stock traded up $0.31 during trading on Friday, hitting $17.53. The company had a trading volume of 3,571,931 shares, compared to its average volume of 3,087,853. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.90. The stock has a market cap of $7.40 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.63 and a beta of 0.64. Kimco Realty Corp has a one year low of $13.16 and a one year high of $18.64.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.39%. The ex-dividend date was Monday, April 1st. Kimco Realty’s dividend payout ratio (DPR) is currently 77.24%.
In other Kimco Realty news, Director Richard B. Saltzman sold 5,500 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.39, for a total transaction of $101,145.00. Following the completion of the sale, the director now directly owns 81,335 shares in the company, valued at $1,495,750.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Jamieson sold 16,435 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $18.33, for a total value of $301,253.55. Following the sale, the chief operating officer now owns 94,211 shares of the company’s stock, valued at $1,726,887.63. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
A number of equities research analysts have recently issued reports on KIM shares. Zacks Investment Research upgraded Kimco Realty from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Monday, December 31st. ValuEngine upgraded Kimco Realty from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Evercore ISI cut Kimco Realty from an “in-line” rating to an “underperform” rating in a report on Monday, April 1st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Kimco Realty currently has a consensus rating of “Hold” and a consensus price target of $17.60.
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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.
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