Mutual of America Capital Management LLC boosted its stake in shares of Kimco Realty Corp (NYSE:KIM – Get Rating) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,297 shares of the real estate investment trust’s stock after acquiring an additional 907 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Kimco Realty were worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Kimco Realty by 5.0% during the 4th quarter. BlackRock Inc. now owns 55,140,654 shares of the real estate investment trust’s stock worth $1,359,219,000 after acquiring an additional 2,632,139 shares during the period. State Street Corp lifted its holdings in shares of Kimco Realty by 8.4% in the 4th quarter. State Street Corp now owns 37,094,167 shares of the real estate investment trust’s stock valued at $914,371,000 after buying an additional 2,882,534 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Kimco Realty by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 12,617,726 shares of the real estate investment trust’s stock valued at $310,586,000 after buying an additional 245,905 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Kimco Realty by 12.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 11,226,192 shares of the real estate investment trust’s stock valued at $276,725,000 after buying an additional 1,252,539 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Kimco Realty by 16.3% in the 4th quarter. Nuveen Asset Management LLC now owns 7,809,131 shares of the real estate investment trust’s stock valued at $192,496,000 after buying an additional 1,095,362 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
KIM has been the subject of several recent analyst reports. StockNews.com raised Kimco Realty from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Credit Suisse Group began coverage on Kimco Realty in a report on Wednesday, June 22nd. They set an “outperform” rating and a $22.00 price objective for the company. Compass Point reduced their price objective on Kimco Realty from $27.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, June 22nd. Piper Sandler reduced their price objective on Kimco Realty to $25.00 in a report on Monday, July 4th. Finally, Morgan Stanley reduced their price objective on Kimco Realty from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kimco Realty has a consensus rating of “Moderate Buy” and a consensus target price of $24.65.
Kimco Realty Stock Performance
Kimco Realty Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a $0.22 dividend. The ex-dividend date is Thursday, September 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.20. Kimco Realty’s payout ratio is currently 48.19%.
In other news, CFO Glenn Gary Cohen sold 10,000 shares of Kimco Realty stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $25.07, for a total value of $250,700.00. Following the completion of the sale, the chief financial officer now owns 486,240 shares of the company’s stock, valued at $12,190,036.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.
Kimco Realty 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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