Bank of Montreal Can reduced its stake in shares of Kimco Realty Corp (NYSE:KIM - Get Rating) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,896 shares of the real estate investment trust's stock after selling 9,329 shares during the quarter. Bank of Montreal Can owned 0.05% of Kimco Realty worth $6,575,000 as of its most recent SEC filing.
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Several other hedge funds have also recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp raised its stake in Kimco Realty by 1.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 350,666 shares of the real estate investment trust's stock worth $6,455,000 after acquiring an additional 6,405 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Kimco Realty by 24.3% in the third quarter. California Public Employees Retirement System now owns 1,393,409 shares of the real estate investment trust's stock valued at $25,653,000 after buying an additional 272,252 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Kimco Realty by 3.5% in the third quarter. Allianz Asset Management GmbH now owns 138,184 shares of the real estate investment trust's stock valued at $2,544,000 after buying an additional 4,657 shares in the last quarter. 9258 Wealth Management LLC acquired a new stake in shares of Kimco Realty in the third quarter valued at $1,813,000. Finally, Cambria Investment Management L.P. increased its stake in shares of Kimco Realty by 53.8% in the third quarter. Cambria Investment Management L.P. now owns 16,000 shares of the real estate investment trust's stock valued at $295,000 after buying an additional 5,600 shares in the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of KIM opened at $20.45 on Wednesday. Kimco Realty Corp has a 1 year low of $17.71 and a 1 year high of $26.57. The stock has a market cap of $12.65 billion, a P/E ratio of 136.33, a price-to-earnings-growth ratio of 1.73 and a beta of 1.45. The stock's 50-day moving average price is $21.56 and its two-hundred day moving average price is $21.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Wednesday, March 8th. Kimco Realty's dividend payout ratio (DPR) is presently 613.33%.
A number of analysts have recently weighed in on the company. Citigroup raised their target price on Kimco Realty from $23.00 to $26.00 in a research note on Wednesday, December 14th. TheStreet upgraded Kimco Realty from a "c+" rating to a "b-" rating in a report on Tuesday, November 29th. StockNews.com upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Tuesday, January 10th. Barclays raised their price target on Kimco Realty from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, December 6th. Finally, Mizuho cut Kimco Realty from a "buy" rating to a "neutral" rating and decreased their price target for the company from $22.00 to $21.00 in a report on Tuesday, January 10th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Kimco Realty presently has an average rating of "Hold" and a consensus price target of $23.25.
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.
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