Kimco Realty Corporation $KIM Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its position in shares of Kimco Realty Corporation (NYSE:KIM) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,189,762 shares of the real estate investment trust’s stock after selling 142,459 shares during the quarter. Citigroup Inc. owned 0.18% of Kimco Realty worth $25,996,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC increased its stake in Kimco Realty by 94.1% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 70,662 shares of the real estate investment trust’s stock worth $1,544,000 after buying an additional 34,251 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Kimco Realty in the third quarter worth approximately $4,653,000. AlphaQuest LLC increased its position in shares of Kimco Realty by 124.0% during the third quarter. AlphaQuest LLC now owns 119,706 shares of the real estate investment trust’s stock worth $2,616,000 after purchasing an additional 66,269 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in Kimco Realty in the 3rd quarter valued at $1,100,000. Finally, Pacific Heights Asset Management LLC raised its stake in Kimco Realty by 66.7% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the real estate investment trust’s stock valued at $10,925,000 after purchasing an additional 200,000 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Kimco Realty Price Performance

Shares of KIM stock opened at $23.30 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.31 and a quick ratio of 3.59. The company has a market capitalization of $15.71 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.30 and a beta of 1.07. The firm’s 50-day moving average is $21.19 and its two-hundred day moving average is $21.26. Kimco Realty Corporation has a 12 month low of $17.93 and a 12 month high of $23.66.

Kimco Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.04 annualized dividend and a yield of 4.5%. Kimco Realty’s dividend payout ratio (DPR) is 128.40%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KIM. Barclays reaffirmed an “overweight” rating and set a $25.00 target price on shares of Kimco Realty in a report on Tuesday, January 13th. Citigroup lowered their price target on shares of Kimco Realty from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Piper Sandler increased their price objective on shares of Kimco Realty from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, February 17th. UBS Group lowered their target price on Kimco Realty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Mizuho set a $21.00 price target on Kimco Realty in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.18.

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.