Advisors Capital Management LLC lifted its holdings in Kimco Realty Corp (NYSE:KIM - Get Rating) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 188,356 shares of the real estate investment trust's stock after purchasing an additional 7,701 shares during the quarter. Advisors Capital Management LLC's holdings in Kimco Realty were worth $4,108,000 as of its most recent filing with the SEC.
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Several other institutional investors and hedge funds also recently modified their holdings of the business. State of Michigan Retirement System grew its stake in shares of Kimco Realty by 0.3% in the third quarter. State of Michigan Retirement System now owns 175,833 shares of the real estate investment trust's stock worth $3,237,000 after purchasing an additional 600 shares in the last quarter. Synovus Financial Corp boosted its stake in Kimco Realty by 4.3% during the second quarter. Synovus Financial Corp now owns 17,577 shares of the real estate investment trust's stock valued at $342,000 after buying an additional 727 shares in the last quarter. Inspire Investing LLC boosted its stake in Kimco Realty by 4.7% during the third quarter. Inspire Investing LLC now owns 17,031 shares of the real estate investment trust's stock valued at $314,000 after buying an additional 762 shares in the last quarter. Ethic Inc. boosted its stake in Kimco Realty by 10.0% during the first quarter. Ethic Inc. now owns 8,955 shares of the real estate investment trust's stock valued at $221,000 after buying an additional 817 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in Kimco Realty by 1.6% during the second quarter. Cetera Advisors LLC now owns 61,231 shares of the real estate investment trust's stock valued at $1,211,000 after buying an additional 965 shares in the last quarter. Institutional investors own 92.33% of the company's stock.
Several research analysts recently weighed in on the company. Truist Financial cut Kimco Realty from a "buy" rating to a "hold" rating and decreased their target price for the company from $25.00 to $24.00 in a research note on Tuesday, January 17th. TheStreet raised Kimco Realty from a "c+" rating to a "b-" rating in a report on Tuesday, November 29th. Mizuho reduced their target price on Kimco Realty from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, March 1st. StockNews.com raised Kimco Realty from a "sell" rating to a "hold" rating in a report on Tuesday, January 10th. Finally, Credit Suisse Group lowered shares of Kimco Realty from an "outperform" rating to a "neutral" rating and set a $22.00 price objective on the stock. in a research report on Monday, January 9th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $23.25.
In related news, Director Frank Lourenso sold 9,630 shares of the company's stock in a transaction 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 directly owns 212,424 shares in the company, valued at approximately $4,397,176.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company's stock.
NYSE KIM opened at $19.20 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.74. The company has a fifty day simple moving average of $21.20 and a 200 day simple moving average of $20.99. The company has a market cap of $11.88 billion, a P/E ratio of 128.00, a P/E/G ratio of 2.24 and a beta of 1.46. Kimco Realty Corp has a 1 year low of $17.71 and a 1 year high of $26.57.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.79%. The ex-dividend date is Wednesday, March 8th. Kimco Realty's payout ratio is currently 613.33%.
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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