Allianz Asset Management GmbH Cuts Holdings in Kimco Realty Corporation $KIM

Allianz Asset Management GmbH decreased its position in Kimco Realty Corporation (NYSE:KIM) by 24.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 738,544 shares of the real estate investment trust’s stock after selling 240,815 shares during the period. Allianz Asset Management GmbH owned 0.11% of Kimco Realty worth $16,137,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of KIM. Norges Bank purchased a new stake in shares of Kimco Realty during the second quarter valued at approximately $175,963,000. Federated Hermes Inc. grew its stake in Kimco Realty by 27.2% in the 3rd quarter. Federated Hermes Inc. now owns 10,649,864 shares of the real estate investment trust’s stock valued at $232,700,000 after purchasing an additional 2,280,090 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Kimco Realty during the 2nd quarter valued at $33,075,000. Hudson Bay Capital Management LP bought a new stake in shares of Kimco Realty during the 2nd quarter worth $24,046,000. Finally, State Street Corp boosted its holdings in shares of Kimco Realty by 2.2% in the 2nd quarter. State Street Corp now owns 46,347,837 shares of the real estate investment trust’s stock worth $974,232,000 after buying an additional 995,352 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KIM shares. Weiss Ratings restated a “hold (c+)” rating on shares of Kimco Realty in a report on Thursday, January 22nd. Barclays reissued an “overweight” rating and set a $25.00 target price on shares of Kimco Realty in a research report on Tuesday, January 13th. Wells Fargo & Company decreased their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, December 15th. Morgan Stanley set a $23.50 price target on shares of Kimco Realty in a report on Monday, January 5th. Finally, UBS Group dropped their price target on Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.89.

Kimco Realty Price Performance

Kimco Realty stock opened at $21.86 on Friday. The firm has a market capitalization of $14.80 billion, a P/E ratio of 26.34, a PEG ratio of 1.19 and a beta of 1.07. Kimco Realty Corporation has a one year low of $17.93 and a one year high of $23.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.59 and a quick ratio of 3.59. The business has a fifty day moving average price of $20.53 and a 200-day moving average price of $21.14.

Kimco Realty Company Profile

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.