Naviter Wealth LLC Increases Stock Position in Kimco Realty Corp (NYSE:KIM)

Naviter Wealth LLC boosted its position in Kimco Realty Corp (NYSE:KIM) by 8.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 42,535 shares of the real estate investment trust’s stock after acquiring an additional 3,233 shares during the quarter. Naviter Wealth LLC’s holdings in Kimco Realty were worth $834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KIM. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Kimco Realty in the fourth quarter worth about $27,000. Headlands Technologies LLC purchased a new position in shares of Kimco Realty during the 4th quarter valued at approximately $27,000. Principal Securities Inc. acquired a new stake in shares of Kimco Realty during the fourth quarter worth approximately $29,000. Criterion Capital Advisors LLC bought a new stake in shares of Kimco Realty in the fourth quarter worth $33,000. Finally, Mather Group LLC. acquired a new stake in Kimco Realty in the first quarter valued at $82,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KIM. Robert W. Baird dropped their target price 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. Truist Financial cut their price objective on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Citigroup reiterated a “neutral” rating and issued a $20.00 target price (down previously from $26.00) on shares of Kimco Realty in a research report on Friday, March 22nd. Bank of America reaffirmed a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Finally, Mizuho reduced their price target on shares of Kimco Realty from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.52.

Kimco Realty Stock Performance

KIM opened at $19.41 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.71. The firm has a market cap of $13.08 billion, a PE ratio of 36.62, a P/E/G ratio of 3.76 and a beta of 1.51. The business has a fifty day simple moving average of $18.89 and a 200-day simple moving average of $19.50. Kimco Realty Corp has a fifty-two week low of $16.34 and a fifty-two week high of $22.83.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Thursday, June 6th. Kimco Realty’s payout ratio is presently 181.14%.

Kimco Realty Company 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.