Hazelview Securities Inc. Sells 356,380 Shares of Kimco Realty Corp (NYSE:KIM)

Hazelview Securities Inc. reduced its holdings in Kimco Realty Corp (NYSE:KIM) by 43.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 464,320 shares of the real estate investment trust’s stock after selling 356,380 shares during the quarter. Kimco Realty makes up about 1.7% of Hazelview Securities Inc.’s portfolio, making the stock its 22nd largest holding. Hazelview Securities Inc. owned about 0.07% of Kimco Realty worth $8,864,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KIM. Norges Bank acquired a new stake in Kimco Realty during the 4th quarter worth about $150,326,000. JPMorgan Chase & Co. grew its holdings in Kimco Realty by 23.4% in the third quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust’s stock worth $547,401,000 after purchasing an additional 5,894,446 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Kimco Realty in the fourth quarter worth approximately $84,678,000. Cohen & Steers Inc. increased its holdings in shares of Kimco Realty by 7.3% during the fourth quarter. Cohen & Steers Inc. now owns 44,190,222 shares of the real estate investment trust’s stock valued at $941,817,000 after acquiring an additional 3,022,995 shares in the last quarter. Finally, PGGM Investments bought a new position in shares of Kimco Realty in the 4th quarter worth $46,323,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Performance

KIM traded up $0.01 during midday trading on Wednesday, reaching $18.77. The company had a trading volume of 1,233,096 shares, compared to its average volume of 4,966,685. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $22.83. The business has a 50-day moving average price of $18.78 and a two-hundred day moving average price of $19.57. The stock has a market cap of $12.65 billion, a PE ratio of 35.26, a P/E/G ratio of 3.63 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.86 and a current ratio of 1.86.

Kimco Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.96 annualized dividend and a yield of 5.11%. Kimco Realty’s payout ratio is 181.14%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KIM shares. Citigroup restated a “neutral” rating and issued a $20.00 target price (down previously from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Bank of America restated a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Truist Financial decreased their price target on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a report on Monday, May 20th. Robert W. Baird dropped their price objective on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 4th. Finally, Mizuho reduced their target price on shares of Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.52.

About Kimco Realty

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.