Alps Advisors Inc. decreased its stake in Kimco Realty Corp. (NYSE:KIM) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 47,146 shares of the real estate investment trust’s stock after selling 1,373 shares during the period. Alps Advisors Inc.’s holdings in Kimco Realty Corp. were worth $1,479,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Magnetar Financial LLC acquired a new position in Kimco Realty Corp. during the first quarter valued at approximately $203,000. Mn Services Vermogensbeheer B.V. acquired a new position in Kimco Realty Corp. during the first quarter valued at approximately $259,000. Raymond James Trust N.A. acquired a new position in Kimco Realty Corp. during the second quarter valued at approximately $312,000. Eqis Capital Management Inc. increased its position in Kimco Realty Corp. by 20.3% in the second quarter. Eqis Capital Management Inc. now owns 10,919 shares of the real estate investment trust’s stock valued at $343,000 after buying an additional 1,842 shares during the period. Finally, Bessemer Group Inc. acquired a new position in Kimco Realty Corp. during the first quarter valued at approximately $403,000. 93.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kimco Realty Corp. (NYSE:KIM) traded down 1.23% during trading on Friday, reaching $28.95. The company’s stock had a trading volume of 2,840,572 shares. Kimco Realty Corp. has a one year low of $24.75 and a one year high of $32.24. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 16.22 and a beta of 1.05. The company has a 50-day moving average price of $29.68 and a 200-day moving average price of $29.51.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Wednesday, October 5th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, October 3rd. Kimco Realty Corp.’s dividend payout ratio (DPR) is presently 56.98%.
Several research analysts have commented on KIM shares. Vetr downgraded shares of Kimco Realty Corp. from a “strong-buy” rating to a “buy” rating and set a $33.15 price target on the stock. in a research note on Thursday, September 22nd. Barclays PLC restated a “buy” rating and issued a $34.00 target price on shares of Kimco Realty Corp. in a report on Tuesday, July 19th. Canaccord Genuity raised their target price on shares of Kimco Realty Corp. from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. BTIG Research initiated coverage on shares of Kimco Realty Corp. in a report on Thursday, August 25th. They issued a “buy” rating and a $34.00 target price on the stock. Finally, Deutsche Bank AG raised their target price on shares of Kimco Realty Corp. from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Wednesday, August 17th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $31.33.
In other Kimco Realty Corp. news, Director Philip E. Coviello, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was bought at an average cost of $31.17 per share, for a total transaction of $31,170.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by company insiders.
About Kimco Realty Corp.
Kimco Realty Corporation is a real estate investment trust. The Company is engaged principally in the ownership, management, development and operation of open-air shopping centers. The Company holds interests in approximately 610 shopping center properties, aggregating over 100 million square feet of gross leasable area (GLA), located in approximately 40 states of the United States, Puerto Rico and Canada.
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