Stoneridge Investment Partners LLC Increases Stake in Kimco Realty Corp (KIM)
Stoneridge Investment Partners LLC lifted its stake in shares of Kimco Realty Corp (NYSE:KIM) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 35,429 shares of the real estate investment trust’s stock after buying an additional 1,432 shares during the period. Stoneridge Investment Partners LLC’s holdings in Kimco Realty were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in KIM. Bank of New York Mellon Corp raised its position in shares of Kimco Realty by 15.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 16,110,958 shares of the real estate investment trust’s stock worth $269,698,000 after purchasing an additional 2,161,479 shares during the period. Menora Mivtachim Holdings LTD. acquired a new stake in shares of Kimco Realty during the 3rd quarter worth approximately $30,309,000. Renaissance Technologies LLC raised its position in shares of Kimco Realty by 1,026.1% during the 3rd quarter. Renaissance Technologies LLC now owns 1,011,200 shares of the real estate investment trust’s stock worth $16,927,000 after purchasing an additional 921,400 shares during the period. Chicago Equity Partners LLC grew its holdings in Kimco Realty by 491.4% in the 4th quarter. Chicago Equity Partners LLC now owns 634,795 shares of the real estate investment trust’s stock worth $9,300,000 after buying an additional 527,450 shares in the last quarter. Finally, Adelante Capital Management LLC grew its holdings in Kimco Realty by 24.9% in the 3rd quarter. Adelante Capital Management LLC now owns 2,559,963 shares of the real estate investment trust’s stock worth $42,854,000 after buying an additional 510,348 shares in the last quarter. Institutional investors and hedge funds own 87.04% of the company’s stock.
Shares of KIM stock opened at $17.81 on Tuesday. Kimco Realty Corp has a 12-month low of $13.16 and a 12-month high of $17.96. The company has a market capitalization of $7.50 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 4.02 and a beta of 0.65.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Monday, April 1st. Kimco Realty’s payout ratio is currently 77.24%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Kimco Realty from a “sell” rating to a “hold” rating in a report on Monday, February 4th. ValuEngine raised Kimco Realty from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Scotiabank assumed coverage on Kimco Realty in a report on Tuesday, October 16th. They issued an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. Kimco Realty has a consensus rating of “Hold” and a consensus price target of $17.55.
In other news, Director Philip E. Coviello, Jr. purchased 5,000 shares of the firm’s stock in a transaction on Thursday, December 20th. The stock was purchased at an average cost of $14.91 per share, with a total value of $74,550.00. Following the purchase, the director now owns 52,965 shares in the company, valued at approximately $789,708.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.
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Kimco Realty 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 September 30, 2018, the company owned interests in 450 U.S. shopping centers comprising 78 million square feet of leasable space primarily concentrated in the top major metropolitan markets.
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