Louisiana State Employees Retirement System reduced its stake in Kimco Realty Corp. (NYSE:KIM) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,500 shares of the real estate investment trust’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Kimco Realty Corp. were worth $863,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Magnetar Financial LLC bought a new position in Kimco Realty Corp. during the first quarter valued at approximately $203,000. Raymond James Trust N.A. bought a new position in Kimco Realty Corp. during the second quarter valued at approximately $312,000. Eqis Capital Management Inc. raised 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 last quarter. Bessemer Group Inc. bought a new position in Kimco Realty Corp. during the first quarter valued at approximately $403,000. Finally, Wendell David Associates Inc. raised its position in Kimco Realty Corp. by 3.3% in the second quarter. Wendell David Associates Inc. now owns 14,050 shares of the real estate investment trust’s stock valued at $436,000 after buying an additional 450 shares during the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Kimco Realty Corp. (NYSE:KIM) traded down 0.43% during mid-day trading on Thursday, hitting $27.69. The stock had a trading volume of 4,745,632 shares. Kimco Realty Corp. has a 52-week low of $24.75 and a 52-week high of $32.24. The firm has a market cap of $11.63 billion, a PE ratio of 15.51 and a beta of 0.95. The firm has a 50 day moving average price of $29.44 and a 200 day moving average price of $29.50.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors 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 3.68%. The ex-dividend date of this dividend is Monday, October 3rd. Kimco Realty Corp.’s payout ratio is currently 56.98%.
KIM has been the subject of several recent research reports. Barclays PLC reissued a “buy” rating and issued a $34.00 price target on shares of Kimco Realty Corp. in a research report on Tuesday, July 19th. Canaccord Genuity boosted their price target on Kimco Realty Corp. from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, August 16th. BTIG Research started coverage on Kimco Realty Corp. in a research report on Thursday, August 25th. They issued a “buy” rating and a $34.00 price target for the company. Vetr lowered Kimco Realty Corp. from a “strong-buy” rating to a “buy” rating and set a $33.15 target price on the stock. in a research report on Thursday, September 22nd. Finally, Stifel Nicolaus lowered Kimco Realty Corp. from a “buy” rating to a “hold” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.33.
In related news, Director Philip E. Coviello, Jr. bought 1,000 shares of Kimco Realty Corp. stock in a transaction that occurred on Monday, August 8th. The shares were purchased at an average price of $31.17 per share, with a total value of $31,170.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.20% of the stock is owned by corporate insiders.
Kimco Realty Corp. Company Profile
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.
Want to see what other hedge funds are holding KIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimco Realty Corp. (NYSE:KIM).
Receive News & Ratings for Kimco Realty Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimco Realty Corp. and related companies with MarketBeat.com's FREE daily email newsletter.