Nordea Investment Management AB purchased a new stake in Kimco Realty Corp (NYSE:KIM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,550 shares of the real estate investment trust’s stock, valued at approximately $277,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Kimco Realty by 0.4% in the 3rd quarter. BlackRock Inc. now owns 40,287,201 shares of the real estate investment trust’s stock valued at $674,407,000 after buying an additional 150,935 shares during the last quarter. Bank of New York Mellon Corp raised its position in Kimco Realty by 15.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,110,958 shares of the real estate investment trust’s stock valued at $269,698,000 after buying an additional 2,161,479 shares during the last quarter. FMR LLC raised its position in Kimco Realty by 3.5% in the 3rd quarter. FMR LLC now owns 8,950,815 shares of the real estate investment trust’s stock valued at $149,837,000 after buying an additional 298,580 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Kimco Realty by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,862,687 shares of the real estate investment trust’s stock valued at $114,877,000 after buying an additional 128,954 shares during the last quarter. Finally, Private Management Group Inc. raised its position in Kimco Realty by 0.8% in the 2nd quarter. Private Management Group Inc. now owns 3,846,749 shares of the real estate investment trust’s stock valued at $65,356,000 after buying an additional 30,080 shares during the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.
In other news, Director Philip E. Coviello, Jr. purchased 5,000 shares of the business’s stock in a transaction dated Thursday, December 20th. The stock was bought at an average price of $14.91 per share, for a total transaction of $74,550.00. Following the purchase, the director now owns 52,965 shares of the company’s stock, valued at $789,708.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by corporate insiders.
KIM stock opened at $15.87 on Friday. The firm has a market cap of $6.63 billion, a PE ratio of 10.24, a PEG ratio of 3.10 and a beta of 0.45. Kimco Realty Corp has a fifty-two week low of $13.16 and a fifty-two week high of $17.96.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.12 annualized dividend and a dividend yield of 7.06%. Kimco Realty’s payout ratio is 72.26%.
Several brokerages have recently issued reports on KIM. Scotiabank began coverage on Kimco Realty in a research report on Tuesday, October 16th. They set an “underperform” rating for the company. ValuEngine raised Kimco Realty from a “strong sell” rating to a “sell” rating in a research report on Friday, October 26th. Finally, Zacks Investment Research lowered Kimco Realty from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.75.
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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 September 30, 2018, the company owned interests in 450 U.S. shopping centers comprising 78 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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