Envestnet Asset Management Inc. increased its holdings in Kimco Realty Corp (NYSE:KIM - Get Rating) by 20.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 372,971 shares of the real estate investment trust's stock after purchasing an additional 63,166 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of Kimco Realty worth $6,866,000 at the end of the most recent reporting period.
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A number of other large investors also recently bought and sold shares of KIM. Intech Investment Management LLC lifted its position in shares of Kimco Realty by 194.0% during the 3rd quarter. Intech Investment Management LLC now owns 70,449 shares of the real estate investment trust's stock valued at $1,297,000 after buying an additional 46,487 shares in the last quarter. Credit Suisse AG grew its position in shares of Kimco Realty by 4.0% in the third quarter. Credit Suisse AG now owns 828,834 shares of the real estate investment trust's stock valued at $15,259,000 after purchasing an additional 31,813 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Kimco Realty by 6.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 744,055 shares of the real estate investment trust's stock valued at $13,698,000 after purchasing an additional 44,561 shares during the period. Midwest Professional Planners LTD. grew its position in shares of Kimco Realty by 13.8% in the third quarter. Midwest Professional Planners LTD. now owns 18,636 shares of the real estate investment trust's stock valued at $343,000 after purchasing an additional 2,255 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Kimco Realty by 1.9% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 350,666 shares of the real estate investment trust's stock worth $6,455,000 after buying an additional 6,405 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company's stock.
Shares of KIM opened at $20.50 on Thursday. The company's 50-day moving average price is $21.45 and its 200 day moving average price is $21.19. Kimco Realty Corp has a 12-month low of $17.71 and a 12-month high of $26.57. The firm has a market cap of $12.68 billion, a P/E ratio of 136.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.45.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th will be given a $0.23 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $0.92 dividend on an annualized basis and a yield of 4.49%. Kimco Realty's payout ratio is currently 613.33%.
Several equities research analysts have commented on KIM shares. TheStreet upgraded Kimco Realty from a "c+" rating to a "b-" rating in a research note on Tuesday, November 29th. Citigroup raised their price target on shares of Kimco Realty from $23.00 to $26.00 in a research note on Wednesday, December 14th. Credit Suisse Group downgraded shares of Kimco Realty from an "outperform" rating to a "neutral" rating and set a $22.00 price target on the stock. in a research note on Monday, January 9th. Mizuho decreased their price target on shares of Kimco Realty from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, StockNews.com upgraded Kimco Realty from a "sell" rating to a "hold" rating in a report on Tuesday, January 10th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Kimco Realty currently has an average rating of "Hold" and an average price target of $23.25.
In related news, Director Frank Lourenso sold 9,630 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $20.70, for a total transaction of $199,341.00. Following the completion of the transaction, the director now owns 212,424 shares of the company's stock, valued at approximately $4,397,176.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by corporate insiders.
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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