PGGM Investments lessened its position in Kimco Realty Corp (NYSE:KIM) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,704,000 shares of the real estate investment trust’s stock after selling 600,000 shares during the period. Kimco Realty makes up 1.1% of PGGM Investments’ portfolio, making the stock its 16th biggest position. PGGM Investments owned approximately 2.51% of Kimco Realty worth $194,278,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Kimco Realty by 24.5% in the 2nd quarter. FMR LLC now owns 12,220,784 shares of the real estate investment trust’s stock worth $224,251,000 after acquiring an additional 2,408,799 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Kimco Realty by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,119,693 shares of the real estate investment trust’s stock worth $119,639,000 after acquiring an additional 145,326 shares during the period. Cohen & Steers Inc. increased its holdings in shares of Kimco Realty by 13.9% in the 3rd quarter. Cohen & Steers Inc. now owns 5,419,914 shares of the real estate investment trust’s stock worth $105,959,000 after acquiring an additional 661,103 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Kimco Realty by 5.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 4,580,965 shares of the real estate investment trust’s stock worth $83,145,000 after acquiring an additional 254,820 shares during the period. Finally, Hamlin Capital Management LLC increased its holdings in shares of Kimco Realty by 38.9% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,330,610 shares of the real estate investment trust’s stock worth $84,663,000 after acquiring an additional 1,212,542 shares during the period. 91.37% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. ValuEngine cut shares of Kimco Realty from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and set a $17.00 target price on shares of Kimco Realty in a research note on Thursday, February 1st. Barclays lowered their target price on shares of Kimco Realty from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. SunTrust Banks set a $18.00 target price on shares of Kimco Realty and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Zacks Investment Research cut shares of Kimco Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $21.34.
Kimco Realty Corp (NYSE KIM) opened at $14.32 on Tuesday. The stock has a market cap of $6,040.00, a P/E ratio of 21.06, a PEG ratio of 2.01 and a beta of 0.46. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty Corp has a 52 week low of $13.70 and a 52 week high of $25.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be paid a $0.28 dividend. The ex-dividend date is Monday, April 2nd. This represents a $1.12 annualized dividend and a dividend yield of 7.82%. Kimco Realty’s dividend payout ratio is currently 164.71%.
In other Kimco Realty news, insider Milton Cooper acquired 50,000 shares of the stock in a transaction dated Monday, December 4th. The shares were bought at an average price of $19.20 per share, with a total value of $960,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.
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Kimco Realty Company Profile
Kimco Realty Corporation is a self-administered real estate investment trust. The Company is engaged in the ownership, management, development and operation of open-air shopping centers, which are anchored generally by discount department stores, grocery stores or drugstores. As of June 30, 2017, the Company had interests in 510 shopping center properties, including 84 million square feet of gross leasable area (GLA), located in 32 states, Puerto Rico and Canada.
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