California Public Employees Retirement System Trims Position in Kimco Realty Corp (NYSE:KIM)

California Public Employees Retirement System cut its position in Kimco Realty Corp (NYSE:KIM) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160,017 shares of the real estate investment trust’s stock after selling 20,722 shares during the period. California Public Employees Retirement System’s holdings in Kimco Realty were worth $24,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP increased its holdings in Kimco Realty by 46.6% in the 3rd quarter. Allworth Financial LP now owns 2,600 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 827 shares during the last quarter. Inspire Investing LLC increased its holdings in Kimco Realty by 4.4% in the 3rd quarter. Inspire Investing LLC now owns 20,767 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 868 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Kimco Realty by 1.0% in the 3rd quarter. CIBC Asset Management Inc now owns 88,617 shares of the real estate investment trust’s stock valued at $1,559,000 after acquiring an additional 869 shares during the last quarter. Citizens National Bank Trust Department increased its holdings in Kimco Realty by 4.1% in the 3rd quarter. Citizens National Bank Trust Department now owns 23,036 shares of the real estate investment trust’s stock valued at $405,000 after acquiring an additional 899 shares during the last quarter. Finally, Schulhoff & Co. Inc. increased its holdings in Kimco Realty by 7.1% in the 3rd quarter. Schulhoff & Co. Inc. now owns 15,053 shares of the real estate investment trust’s stock valued at $265,000 after acquiring an additional 1,000 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KIM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kimco Realty in a report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price on the stock. Bank of America restated a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Robert W. Baird reduced their target price on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 4th. Citigroup restated a “neutral” rating and issued a $20.00 target price (down from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Finally, Mizuho reduced their target price on shares of Kimco Realty from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.48.

Kimco Realty Price Performance

KIM stock opened at $18.38 on Monday. Kimco Realty Corp has a 12 month low of $16.34 and a 12 month high of $22.83. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $18.99 and a 200 day moving average price of $19.41. The stock has a market cap of $12.39 billion, a PE ratio of 18.02, a P/E/G ratio of 4.15 and a beta of 1.45.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.22%. Kimco Realty’s dividend payout ratio is presently 94.12%.

Insider Buying and Selling at Kimco Realty

In other Kimco Realty news, Director Frank Lourenso sold 8,890 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total value of $172,643.80. Following the completion of the sale, the director now directly owns 203,534 shares of the company’s stock, valued at approximately $3,952,630.28. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is owned by corporate insiders.

About Kimco Realty

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.