Kimco Realty Corp (NYSE:KIM) Stake Lessened by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in shares of Kimco Realty Corp (NYSE:KIMGet Rating) by 36.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,259 shares of the real estate investment trust’s stock after selling 28,801 shares during the period. Bank of Nova Scotia’s holdings in Kimco Realty were worth $1,013,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Kimco Realty by 16.0% during the second quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,114 shares of the real estate investment trust’s stock worth $417,000 after buying an additional 2,912 shares in the last quarter. Kentucky Retirement Systems boosted its holdings in Kimco Realty by 16.7% during the second quarter. Kentucky Retirement Systems now owns 45,868 shares of the real estate investment trust’s stock worth $907,000 after buying an additional 6,562 shares in the last quarter. Texas Permanent School Fund boosted its holdings in Kimco Realty by 2.1% during the second quarter. Texas Permanent School Fund now owns 81,630 shares of the real estate investment trust’s stock worth $1,614,000 after buying an additional 1,644 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Kimco Realty by 12.6% during the second quarter. State of Michigan Retirement System now owns 175,233 shares of the real estate investment trust’s stock worth $3,464,000 after buying an additional 19,600 shares in the last quarter. Finally, ING Groep NV boosted its holdings in Kimco Realty by 18.9% during the second quarter. ING Groep NV now owns 116,296 shares of the real estate investment trust’s stock worth $2,299,000 after buying an additional 18,460 shares in the last quarter. 94.16% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Realty Corp Kimco sold 11,500,000 shares of the firm’s stock in a transaction on Friday, October 14th. The shares were sold at an average price of $26.18, for a total transaction of $301,070,000.00. Following the transaction, the insider now owns 28,338,105 shares in the company, valued at approximately $741,891,588.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Kimco Realty Trading Up 0.6 %

Kimco Realty stock opened at $22.15 on Friday. The company has a market capitalization of $13.70 billion, a P/E ratio of 59.86, a P/E/G ratio of 1.55 and a beta of 1.41. The firm’s fifty day simple moving average is $20.18 and its 200-day simple moving average is $21.15. Kimco Realty Corp has a 1-year low of $17.71 and a 1-year high of $26.57.

Kimco Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Friday, December 9th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, December 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.15%. This is an increase from Kimco Realty’s previous quarterly dividend of $0.22. Kimco Realty’s dividend payout ratio (DPR) is currently 237.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KIM shares. Piper Sandler reduced their price target on shares of Kimco Realty from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, October 7th. Mizuho reduced their price target on shares of Kimco Realty from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, November 11th. Morgan Stanley upped their price target on shares of Kimco Realty from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, August 29th. TheStreet downgraded shares of Kimco Realty from a “b” rating to a “c+” rating in a research report on Thursday, October 27th. Finally, Barclays reduced their price target on shares of Kimco Realty to $24.00 in a research report on Thursday, October 27th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kimco Realty presently has an average rating of “Moderate Buy” and a consensus price target of $23.93.

Kimco Realty Profile

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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.

See Also

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Institutional Ownership by Quarter for Kimco Realty (NYSE:KIM)

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