Principal Financial Group Inc. raised its holdings in Kimco Realty Corp (NYSE:KIM – Get Rating) by 17.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 892,944 shares of the real estate investment trust’s stock after purchasing an additional 134,402 shares during the quarter. Principal Financial Group Inc.’s holdings in Kimco Realty were worth $17,653,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Kimco Realty by 3.2% in the first quarter. Vanguard Group Inc. now owns 100,537,581 shares of the real estate investment trust’s stock valued at $2,483,278,000 after purchasing an additional 3,081,151 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Kimco Realty by 1.0% during the 1st quarter. BlackRock Inc. now owns 55,689,155 shares of the real estate investment trust’s stock worth $1,375,521,000 after acquiring an additional 548,501 shares in the last quarter. State Street Corp boosted its stake in shares of Kimco Realty by 19.2% during the 1st quarter. State Street Corp now owns 44,220,642 shares of the real estate investment trust’s stock worth $1,092,250,000 after acquiring an additional 7,126,475 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Kimco Realty by 189.4% during the 1st quarter. Invesco Ltd. now owns 17,024,584 shares of the real estate investment trust’s stock worth $420,508,000 after acquiring an additional 11,141,918 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Kimco Realty by 5.5% during the 1st quarter. Northern Trust Corp now owns 9,215,068 shares of the real estate investment trust’s stock worth $227,612,000 after acquiring an additional 482,054 shares in the last quarter. 94.16% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have recently issued reports on KIM. Evercore ISI lowered their target price on shares of Kimco Realty from $24.00 to $23.00 in a research note on Tuesday, September 27th. Truist Financial lowered their target price on shares of Kimco Realty from $27.00 to $25.00 in a research note on Thursday, October 20th. Piper Sandler lowered their target price on shares of Kimco Realty from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, October 7th. StockNews.com lowered shares of Kimco Realty from a “hold” rating to a “sell” rating in a research note on Monday. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.71.
Kimco Realty Trading Up 2.4 %
Kimco Realty Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 9th will be issued a $0.23 dividend. This is an increase from Kimco Realty’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.92 dividend on an annualized basis and a yield of 4.04%. Kimco Realty’s dividend payout ratio is presently 237.84%.
Insider Buying and Selling at Kimco Realty
In other Kimco Realty news, insider Realty Corp Kimco sold 11,500,000 shares of the stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $26.18, for a total value of $301,070,000.00. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.
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.
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