Brookfield Corp ON Increases Stake in Kimco Realty Corp (NYSE:KIM)

Brookfield Corp ON boosted its stake in shares of Kimco Realty Corp (NYSE:KIM) by 36.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,722,644 shares of the real estate investment trust’s stock after purchasing an additional 991,436 shares during the period. Brookfield Corp ON owned approximately 0.60% of Kimco Realty worth $72,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KIM. Norges Bank acquired a new position in shares of Kimco Realty in the 4th quarter valued at $239,184,000. State Street Corp lifted its holdings in shares of Kimco Realty by 19.2% during the first quarter. State Street Corp now owns 44,220,642 shares of the real estate investment trust’s stock worth $1,092,250,000 after purchasing an additional 7,126,475 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Kimco Realty by 3.2% during the first quarter. Vanguard Group Inc. now owns 100,537,581 shares of the real estate investment trust’s stock worth $2,483,278,000 after purchasing an additional 3,081,151 shares during the period. BlackRock Inc. raised its position in Kimco Realty by 4.1% during the 1st quarter. BlackRock Inc. now owns 63,149,815 shares of the real estate investment trust’s stock worth $1,233,316,000 after buying an additional 2,463,808 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Kimco Realty by 39.3% in the 1st quarter. Wellington Management Group LLP now owns 4,515,382 shares of the real estate investment trust’s stock valued at $111,529,000 after acquiring an additional 1,273,743 shares during the last quarter. Hedge funds and other institutional investors own 90.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TheStreet lowered shares of Kimco Realty from a “b-” rating to a “c+” rating in a report on Tuesday, August 29th. Stifel Nicolaus lowered their price objective on Kimco Realty from $23.75 to $23.25 and set a “buy” rating on the stock in a research report on Thursday, August 31st. Mizuho reaffirmed a “neutral” rating and set a $21.00 target price on shares of Kimco Realty in a report on Tuesday, August 29th. Wells Fargo & Company assumed coverage on shares of Kimco Realty in a report on Tuesday, May 23rd. They set an “underweight” rating and a $19.00 price target on the stock. Finally, Compass Point upgraded shares of Kimco Realty from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.25.

Kimco Realty Stock Down 0.1 %

Shares of KIM opened at $18.57 on Tuesday. The stock has a 50 day moving average price of $19.75 and a 200 day moving average price of $19.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.00 and a current ratio of 4.00. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.62 and a beta of 1.46. Kimco Realty Corp has a one year low of $17.34 and a one year high of $23.27.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Wednesday, September 6th. Kimco Realty’s dividend payout ratio (DPR) is 150.82%.

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.