Tyche Wealth Partners LLC Acquires New Shares in Kimco Realty Corp (NYSE:KIM)

Tyche Wealth Partners LLC acquired a new stake in shares of Kimco Realty Corp (NYSE:KIM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,532 shares of the real estate investment trust’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KIM. Vanguard Group Inc. boosted its position in Kimco Realty by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 101,457,899 shares of the real estate investment trust’s stock worth $1,784,644,000 after acquiring an additional 344,562 shares during the period. BlackRock Inc. boosted its position in Kimco Realty by 4.1% during the 1st quarter. BlackRock Inc. now owns 63,149,815 shares of the real estate investment trust’s stock worth $1,233,316,000 after acquiring an additional 2,463,808 shares during the period. State Street Corp boosted its position in Kimco Realty by 19.2% during the 1st quarter. State Street Corp now owns 44,220,642 shares of the real estate investment trust’s stock worth $1,092,250,000 after acquiring an additional 7,126,475 shares during the period. JPMorgan Chase & Co. boosted its position in Kimco Realty by 23.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust’s stock worth $547,401,000 after acquiring an additional 5,894,446 shares during the period. Finally, Invesco Ltd. boosted its position in Kimco Realty by 31.2% during the 3rd quarter. Invesco Ltd. now owns 18,467,735 shares of the real estate investment trust’s stock worth $324,847,000 after acquiring an additional 4,393,084 shares during the period. Institutional investors and hedge funds own 89.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KIM. Citigroup restated a “neutral” rating and issued a $20.00 price objective (down previously from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft began coverage on Kimco Realty in a report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company. Robert W. Baird cut their price objective on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Piper Sandler upped their price objective on Kimco Realty from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Finally, Bank of America restated a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.67.

Insiders Place Their Bets

In other Kimco Realty news, Director Frank Lourenso sold 8,890 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $19.42, for a total transaction of $172,643.80. Following the completion of the sale, the director now directly owns 203,534 shares in the company, valued at approximately $3,952,630.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Kimco Realty Trading Down 0.1 %

Shares of NYSE KIM opened at $17.60 on Thursday. Kimco Realty Corp has a one year low of $16.34 and a one year high of $22.83. The firm has a market capitalization of $11.86 billion, a PE ratio of 17.26, a PEG ratio of 3.97 and a beta of 1.45. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $19.19 and a two-hundred day moving average price of $19.32.

Kimco Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 6th. This represents a $0.96 dividend on an annualized basis and a yield of 5.45%. Kimco Realty’s payout ratio is presently 94.12%.

Kimco Realty Company Profile

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.