Vanguard Group Inc. Lowers Stock Position in Kimco Realty Corporation $KIM

Vanguard Group Inc. trimmed its stake in shares of Kimco Realty Corporation (NYSE:KIM) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,609,437 shares of the real estate investment trust’s stock after selling 589,903 shares during the quarter. Vanguard Group Inc. owned approximately 16.04% of Kimco Realty worth $2,373,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. HighTower Advisors LLC increased its stake in shares of Kimco Realty by 22.3% in the third quarter. HighTower Advisors LLC now owns 186,019 shares of the real estate investment trust’s stock worth $4,065,000 after buying an additional 33,963 shares during the period. Aberdeen Group plc grew its holdings in Kimco Realty by 19.5% in the 3rd quarter. Aberdeen Group plc now owns 871,890 shares of the real estate investment trust’s stock worth $18,916,000 after acquiring an additional 142,527 shares during the last quarter. Naviter Wealth LLC increased its position in shares of Kimco Realty by 6.5% in the third quarter. Naviter Wealth LLC now owns 52,912 shares of the real estate investment trust’s stock valued at $1,156,000 after acquiring an additional 3,222 shares during the period. Metis Global Partners LLC increased its position in shares of Kimco Realty by 28.4% in the third quarter. Metis Global Partners LLC now owns 175,198 shares of the real estate investment trust’s stock valued at $3,828,000 after acquiring an additional 38,773 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Kimco Realty by 2.8% in the third quarter. Assetmark Inc. now owns 63,543 shares of the real estate investment trust’s stock worth $1,388,000 after purchasing an additional 1,723 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Kimco Realty Price Performance

KIM stock opened at $22.57 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.59 and a current ratio of 3.31. The firm has a 50 day moving average price of $20.95 and a 200-day moving average price of $21.20. Kimco Realty Corporation has a 52-week low of $17.93 and a 52-week high of $23.22. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.27 and a beta of 1.07.

Kimco Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be paid a $0.26 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.04 dividend on an annualized basis and a yield of 4.6%. Kimco Realty’s payout ratio is presently 128.40%.

Analyst Ratings Changes

Several research firms have weighed in on KIM. Robert W. Baird set a $25.00 price objective on Kimco Realty in a report on Friday, February 13th. Barclays reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Kimco Realty in a research report on Tuesday, January 13th. Wall Street Zen raised shares of Kimco Realty from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Truist Financial reduced their target price on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, January 20th. Finally, Citigroup lowered their target price on Kimco Realty from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus target price of $24.18.

About Kimco Realty

Founded in 1958 by Milton Cooper and headquartered in Jericho, New York, Kimco Realty Corporation (NYSE: KIM) is a leading publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of open-air shopping centers. The company’s portfolio, concentrated on neighborhood and community centers anchored by grocery stores, encompasses approximately 400 properties across the United States, with selective holdings in Canada and Mexico.

Kimco’s core business activities include acquiring, repositioning and managing retail real estate assets that serve as daily-need destinations for consumers.