Park Avenue Securities LLC Has $199,000 Position in Kimco Realty Corp (NYSE:KIM)

Park Avenue Securities LLC lowered its stake in shares of Kimco Realty Corp (NYSE:KIM) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,161 shares of the real estate investment trust’s stock after selling 863 shares during the quarter. Park Avenue Securities LLC’s holdings in Kimco Realty were worth $199,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KIM. Envestnet Asset Management Inc. grew its position in Kimco Realty by 12.2% during the third quarter. Envestnet Asset Management Inc. now owns 405,468 shares of the real estate investment trust’s stock worth $7,132,000 after buying an additional 44,062 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Kimco Realty by 18.9% during the third quarter. Natixis Advisors L.P. now owns 163,638 shares of the real estate investment trust’s stock worth $2,878,000 after purchasing an additional 26,009 shares during the last quarter. Bank of Nova Scotia lifted its stake in Kimco Realty by 15.4% during the third quarter. Bank of Nova Scotia now owns 57,165 shares of the real estate investment trust’s stock worth $1,006,000 after purchasing an additional 7,611 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Kimco Realty by 80.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,116,363 shares of the real estate investment trust’s stock worth $19,637,000 after purchasing an additional 498,700 shares during the last quarter. Finally, Kettle Hill Capital Management LLC lifted its stake in Kimco Realty by 38.6% during the third quarter. Kettle Hill Capital Management LLC now owns 1,780,372 shares of the real estate investment trust’s stock worth $31,317,000 after purchasing an additional 495,369 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Kimco Realty Stock Performance

Shares of Kimco Realty stock opened at $19.41 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $18.89 and a two-hundred day moving average price of $19.50. Kimco Realty Corp has a 1-year low of $16.34 and a 1-year high of $22.83. The company has a market cap of $13.08 billion, a P/E ratio of 36.62, a PEG ratio of 3.76 and a beta of 1.51.

Kimco Realty Announces Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on KIM. Citigroup restated a “neutral” rating and set a $20.00 target price (down from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Bank of America restated a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Mizuho cut their target price on Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Truist Financial dropped their price target on Kimco Realty from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, May 20th. Finally, Robert W. Baird dropped their price target on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.52.

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.