Kimco Realty Corporation $KIM Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Kimco Realty Corporation (NYSE:KIM) by 5.9% during the fourth quarter, Holdings Channel reports. The firm owned 2,045,871 shares of the real estate investment trust’s stock after selling 127,756 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kimco Realty were worth $41,470,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in KIM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Kimco Realty by 59.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,247 shares of the real estate investment trust’s stock valued at $2,351,000 after purchasing an additional 41,265 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Kimco Realty by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 639,985 shares of the real estate investment trust’s stock valued at $13,593,000 after purchasing an additional 38,554 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Kimco Realty in the 1st quarter valued at $61,000. Quantbot Technologies LP acquired a new position in shares of Kimco Realty in the 2nd quarter valued at $331,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Kimco Realty by 30.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,069 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 1,170 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Kimco Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 5th. Morgan Stanley set a $23.50 target price on shares of Kimco Realty in a research note on Monday, January 5th. Mizuho set a $21.00 target price on shares of Kimco Realty in a research note on Friday, January 9th. JPMorgan Chase & Co. raised their target price on shares of Kimco Realty from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Finally, Robert W. Baird set a $25.00 target price on shares of Kimco Realty in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Kimco Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.70.

Kimco Realty Stock Performance

Shares of KIM stock opened at $23.49 on Thursday. The company’s fifty day simple moving average is $22.85 and its 200-day simple moving average is $21.50. Kimco Realty Corporation has a 52 week low of $19.59 and a 52 week high of $23.91. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.78. The company has a market cap of $15.84 billion, a PE ratio of 29.00, a P/E/G ratio of 1.32 and a beta of 1.03.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Friday, March 6th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.04 annualized dividend and a yield of 4.4%. Kimco Realty’s payout ratio is 128.40%.

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.