Korea Investment CORP lessened its stake in shares of Kimco Realty Corp (NYSE:KIM - Get Rating) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,469 shares of the real estate investment trust's stock after selling 8,159 shares during the quarter. Korea Investment CORP's holdings in Kimco Realty were worth $3,764,000 at the end of the most recent quarter.
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Several other large investors have also modified their holdings of KIM. Clear Street Markets LLC raised its stake in shares of Kimco Realty by 129.5% during the second quarter. Clear Street Markets LLC now owns 1,290 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 728 shares during the last quarter. Addison Advisors LLC raised its position in Kimco Realty by 13,836.4% in the second quarter. Addison Advisors LLC now owns 1,533 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 1,522 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Kimco Realty in the third quarter worth $38,000. Allworth Financial LP raised its position in Kimco Realty by 107.8% in the third quarter. Allworth Financial LP now owns 2,298 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 1,192 shares in the last quarter. Finally, CX Institutional purchased a new position in Kimco Realty in the second quarter worth $62,000. Hedge funds and other institutional investors own 92.33% of the company's stock.
A number of brokerages have recently weighed in on KIM. TheStreet upgraded Kimco Realty from a "c+" rating to a "b-" rating in a research report on Tuesday, November 29th. Barclays increased their price objective on Kimco Realty from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, December 6th. StockNews.com raised Kimco Realty from a "sell" rating to a "hold" rating in a research note on Tuesday, January 10th. Credit Suisse Group lowered Kimco Realty from an "outperform" rating to a "neutral" rating and set a $22.00 price objective on the stock. in a research note on Monday, January 9th. Finally, Citigroup increased their price objective on Kimco Realty from $23.00 to $26.00 in a research note on Wednesday, December 14th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Kimco Realty presently has a consensus rating of "Hold" and an average target price of $23.25.
Shares of KIM opened at $21.12 on Friday. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of 140.80, a PEG ratio of 1.76 and a beta of 1.45. The stock has a 50 day moving average of $21.59 and a 200-day moving average of $21.28. Kimco Realty Corp has a 52 week low of $17.71 and a 52 week high of $26.57.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $0.92 annualized dividend and a yield of 4.36%. Kimco Realty's dividend payout ratio (DPR) is 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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