Global Assets Advisory LLC Makes New $3.49 Million Investment in Kimco Realty Corp (NYSE:KIM)

Global Assets Advisory LLC purchased a new position in shares of Kimco Realty Corp (NYSE:KIM) during the first quarter, Holdings Channel.com reports. The fund purchased 177,992 shares of the real estate investment trust’s stock, valued at approximately $3,490,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KIM. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Kimco Realty during the 4th quarter worth about $27,000. Headlands Technologies LLC bought a new stake in shares of Kimco Realty during the 4th quarter worth about $27,000. Principal Securities Inc. bought a new stake in shares of Kimco Realty during the 4th quarter worth about $29,000. Criterion Capital Advisors LLC bought a new stake in shares of Kimco Realty during the 4th quarter worth about $33,000. Finally, Mather Group LLC. bought a new stake in shares of Kimco Realty in the 1st quarter worth approximately $82,000. 89.25% of the stock is currently owned by institutional investors.

Kimco Realty Stock Performance

Shares of KIM opened at $19.14 on Tuesday. The company’s fifty day moving average is $18.76 and its 200-day moving average is $19.58. Kimco Realty Corp has a 12 month low of $16.34 and a 12 month high of $22.83. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 3.69 and a beta of 1.50. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.71.

Kimco Realty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a $0.24 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.96 dividend on an annualized basis and a yield of 5.02%. Kimco Realty’s payout ratio is presently 181.14%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Mizuho dropped their target price on shares of Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Robert W. Baird dropped their target price on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Citigroup reissued a “neutral” rating and issued a $20.00 target price (down from $26.00) on shares of Kimco Realty in a research report on Friday, March 22nd. Truist Financial dropped their target price on shares of Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, May 20th. Finally, Bank of America reissued a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.52.

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 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.