Summit Global Investments Increases Stock Position in Kimco Realty Corp (NYSE:KIM)

Summit Global Investments raised its holdings in Kimco Realty Corp (NYSE:KIM) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 285,132 shares of the real estate investment trust’s stock after purchasing an additional 16,383 shares during the quarter. Summit Global Investments’ holdings in Kimco Realty were worth $6,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in KIM. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Kimco Realty during the 3rd quarter valued at approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Kimco Realty during the 4th quarter valued at approximately $27,000. Headlands Technologies LLC acquired a new stake in shares of Kimco Realty during the 4th quarter valued at approximately $27,000. Criterion Capital Advisors LLC acquired a new stake in shares of Kimco Realty during the 4th quarter valued at approximately $33,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Kimco Realty during the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Insider Activity

In other news, Director Frank Lourenso sold 8,890 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total transaction of $172,643.80. Following the completion of the sale, the director now directly owns 203,534 shares of the company’s stock, valued at approximately $3,952,630.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KIM shares. Robert W. Baird reduced their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 4th. Mizuho cut their price objective on Kimco Realty from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Bank of America restated a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Kimco Realty in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 price objective for the company. Finally, Citigroup restated a “neutral” rating and set a $20.00 price objective (down from $26.00) on shares of Kimco Realty in a research report on Friday, March 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kimco Realty currently has an average rating of “Hold” and a consensus target price of $21.48.

Kimco Realty Trading Up 2.4 %

KIM stock traded up $0.45 during midday trading on Thursday, hitting $18.95. The stock had a trading volume of 3,631,739 shares, compared to its average volume of 5,463,826. The firm has a market cap of $12.77 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 4.20 and a beta of 1.46. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.05 and a quick ratio of 5.05. Kimco Realty Corp has a 12-month low of $16.34 and a 12-month high of $22.83. The company’s 50-day moving average price is $18.93 and its 200 day moving average price is $19.42.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.96 annualized dividend and a yield of 5.07%. Kimco Realty’s payout ratio is currently 94.12%.

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.