abrdn plc Raises Holdings in Kimco Realty Corp (NYSE:KIM)

abrdn plc grew its position in shares of Kimco Realty Corp (NYSE:KIM) by 194.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,320,312 shares of the real estate investment trust’s stock after buying an additional 872,478 shares during the quarter. abrdn plc’s holdings in Kimco Realty were worth $28,136,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KIM. JPMorgan Chase & Co. lifted its holdings in shares of Kimco Realty by 23.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust’s stock valued at $547,401,000 after acquiring an additional 5,894,446 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Kimco Realty by 31.2% in the 3rd quarter. Invesco Ltd. now owns 18,467,735 shares of the real estate investment trust’s stock valued at $324,847,000 after acquiring an additional 4,393,084 shares during the last quarter. FMR LLC lifted its stake in Kimco Realty by 17.5% in the third quarter. FMR LLC now owns 13,862,740 shares of the real estate investment trust’s stock worth $243,846,000 after purchasing an additional 2,061,517 shares during the last quarter. Lasalle Investment Management Securities LLC bought a new stake in Kimco Realty in the third quarter worth about $28,849,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Kimco Realty by 75.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,553,892 shares of the real estate investment trust’s stock worth $62,513,000 after purchasing an additional 1,526,324 shares during the last quarter. Institutional investors own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on KIM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Kimco Realty in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company. Robert W. Baird decreased their price objective on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 4th. Bank of America reissued a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Citigroup reaffirmed a “neutral” rating and set a $20.00 price target (down previously from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Finally, Mizuho decreased their price target on shares of Kimco Realty from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.67.

Insider Activity

In other news, Director Frank Lourenso sold 8,890 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the sale, the director now directly owns 203,534 shares of the company’s stock, valued at $3,952,630.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

Kimco Realty Price Performance

NYSE KIM opened at $18.60 on Tuesday. The firm has a market capitalization of $12.54 billion, a P/E ratio of 18.24, a P/E/G ratio of 4.10 and a beta of 1.45. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.79. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $22.83. The firm’s fifty day simple moving average is $19.08 and its two-hundred day simple moving average is $19.36.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date was Wednesday, March 6th. Kimco Realty’s dividend payout ratio (DPR) is presently 94.12%.

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.