Teacher Retirement System of Texas grew its stake in shares of Kimco Realty Corp (NYSE:KIM) by 28.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 490,232 shares of the real estate investment trust’s stock after acquiring an additional 109,700 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of Kimco Realty worth $8,898,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Kimco Realty by 103.7% during the 2nd quarter. Royal Bank of Canada now owns 126,830 shares of the real estate investment trust’s stock valued at $2,327,000 after acquiring an additional 64,576 shares during the period. Third Avenue Management LLC bought a new stake in shares of Kimco Realty during the 3rd quarter valued at $21,120,000. RMR Advisors LLC lifted its position in shares of Kimco Realty by 24.5% during the 4th quarter. RMR Advisors LLC now owns 137,000 shares of the real estate investment trust’s stock valued at $2,487,000 after acquiring an additional 27,000 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Kimco Realty by 1.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,634,172 shares of the real estate investment trust’s stock valued at $31,889,000 after acquiring an additional 27,116 shares during the period. Finally, Goodman Financial Corp lifted its position in shares of Kimco Realty by 10.5% during the 3rd quarter. Goodman Financial Corp now owns 243,140 shares of the real estate investment trust’s stock valued at $4,753,000 after acquiring an additional 23,010 shares during the period. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Shares of Kimco Realty Corp (NYSE:KIM) opened at $14.34 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16. Kimco Realty Corp has a 1 year low of $13.70 and a 1 year high of $24.88. The firm has a market capitalization of $6,095.36, a price-to-earnings ratio of 16.67, a P/E/G ratio of 2.03 and a beta of 0.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, April 2nd. This represents a $1.12 annualized dividend and a dividend yield of 7.81%. Kimco Realty’s dividend payout ratio is currently 130.23%.
In other Kimco Realty news, insider Milton Cooper acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was acquired at an average cost of $19.20 per share, for a total transaction of $960,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on KIM shares. Barclays cut their target price on Kimco Realty from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Stifel Nicolaus started coverage on Kimco Realty in a research report on Thursday, November 30th. They set a “hold” rating and a $19.50 target price for the company. Robert W. Baird downgraded Kimco Realty from an “outperform” rating to a “neutral” rating and cut their target price for the company from $23.00 to $20.00 in a research report on Monday, November 27th. Mizuho set a $20.00 target price on Kimco Realty and gave the company a “hold” rating in a research report on Monday, December 18th. Finally, Boenning Scattergood restated a “hold” rating on shares of Kimco Realty in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Kimco Realty has an average rating of “Hold” and an average price target of $21.34.
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About Kimco Realty
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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