Mackenzie Financial Corp lifted its holdings in shares of Kimco Realty Corp (NYSE:KIM – Get Rating) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,886 shares of the real estate investment trust’s stock after purchasing an additional 1,097 shares during the period. Mackenzie Financial Corp’s holdings in Kimco Realty were worth $1,144,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in Kimco Realty by 147.5% during the first quarter. SG Americas Securities LLC now owns 70,794 shares of the real estate investment trust’s stock worth $1,749,000 after acquiring an additional 42,188 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Kimco Realty by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 82,297 shares of the real estate investment trust’s stock valued at $2,033,000 after buying an additional 907 shares during the period. Metis Global Partners LLC bought a new stake in Kimco Realty in the 1st quarter valued at about $241,000. Arizona State Retirement System raised its stake in Kimco Realty by 9.5% during the 1st quarter. Arizona State Retirement System now owns 171,588 shares of the real estate investment trust’s stock worth $4,238,000 after buying an additional 14,879 shares during the period. Finally, Versor Investments LP bought a new position in Kimco Realty in the first quarter worth approximately $299,000. 94.16% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
KIM has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Kimco Realty from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, August 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kimco Realty from $23.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, October 7th. Evercore ISI cut their price target on Kimco Realty from $24.00 to $23.00 in a research note on Tuesday, September 27th. Piper Sandler lowered their price objective on Kimco Realty from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 7th. Finally, Mizuho cut their target price on Kimco Realty from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, November 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.71.
Kimco Realty Stock Performance
Kimco Realty Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Friday, December 9th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, December 8th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.22. Kimco Realty’s payout ratio is 237.84%.
Insider Activity at Kimco Realty
In other Kimco Realty news, insider Realty Corp Kimco sold 11,500,000 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $26.18, for a total value of $301,070,000.00. Following the completion of the sale, the insider now directly owns 28,338,105 shares of the company’s stock, valued at $741,891,588.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by company insiders.
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.
- Get a free copy of the StockNews.com research report on Kimco Realty (KIM)
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