Truist Financial Corp Sells 15,865 Shares of Kimco Realty Corp (NYSE:KIM)

Truist Financial Corp reduced its position in shares of Kimco Realty Corp (NYSE:KIMGet Rating) by 22.8% during the third quarter, Holdings Channel reports. The firm owned 53,647 shares of the real estate investment trust’s stock after selling 15,865 shares during the period. Truist Financial Corp’s holdings in Kimco Realty were worth $988,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in KIM. Clear Street Markets LLC raised its position in Kimco Realty by 129.5% in the second quarter. Clear Street Markets LLC now owns 1,290 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 728 shares during the period. Addison Advisors LLC raised its position in Kimco Realty by 13,836.4% in the second quarter. Addison Advisors LLC now owns 1,533 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,522 shares during the period. Exchange Traded Concepts LLC bought a new stake in Kimco Realty in the third quarter worth about $38,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Kimco Realty in the second quarter worth about $43,000. Finally, Allworth Financial LP raised its position in Kimco Realty by 107.8% in the third quarter. Allworth Financial LP now owns 2,298 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 1,192 shares during the period. 92.33% of the stock is owned by institutional investors.

Kimco Realty Trading Up 1.4 %

Shares of NYSE:KIM opened at $21.44 on Friday. The company has a 50 day moving average of $21.68 and a 200 day moving average of $21.10. The stock has a market cap of $13.26 billion, a P/E ratio of 57.95, a P/E/G ratio of 1.71 and a beta of 1.40. Kimco Realty Corp has a 12 month low of $17.71 and a 12 month high of $26.57.

Kimco Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 23rd. Shareholders of record on Friday, December 9th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Thursday, December 8th. This is a boost from Kimco Realty’s previous quarterly dividend of $0.22. Kimco Realty’s payout ratio is currently 248.65%.

Analysts Set New Price Targets

Several brokerages have commented on KIM. Truist Financial lowered shares of Kimco Realty from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $24.00 in a research report on Tuesday. Piper Sandler reduced their target price on shares of Kimco Realty from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, October 7th. Barclays lifted their target price on shares of Kimco Realty from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 6th. Mizuho downgraded shares of Kimco Realty from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $21.00 in a research note on Tuesday, January 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Kimco Realty from $23.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, October 7th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.25.

About Kimco Realty

(Get Rating)

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

Want to see what other hedge funds are holding KIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimco Realty Corp (NYSE:KIMGet Rating).

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

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