New York State Common Retirement Fund cut its stake in shares of Kimco Realty Corp (NYSE:KIM – Free Report) by 16.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,681 shares of the real estate investment trust’s stock after selling 93,584 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Kimco Realty worth $8,543,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in KIM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Kimco Realty by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 82,511 shares of the real estate investment trust’s stock valued at $2,038,000 after acquiring an additional 5,138 shares during the period. APG Asset Management N.V. bought a new position in shares of Kimco Realty during the first quarter worth $557,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Kimco Realty during the first quarter worth $2,351,000. National Pension Service acquired a new position in shares of Kimco Realty in the 1st quarter valued at $22,589,000. Finally, Vanguard Group Inc. increased its position in shares of Kimco Realty by 3.2% in the 1st 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 buying an additional 3,081,151 shares in the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Mizuho boosted their target price on Kimco Realty from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Kimco Realty in a research note on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price for the company. Piper Sandler upped their price target on shares of Kimco Realty from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Stifel Nicolaus raised their price objective on shares of Kimco Realty from $20.50 to $21.75 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Finally, TheStreet raised shares of Kimco Realty from a “c+” rating to a “b-” rating in a research note on Thursday, December 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.18.
Kimco Realty Stock Performance
KIM opened at $20.02 on Friday. The business’s 50-day simple moving average is $20.79 and its 200 day simple moving average is $19.30. Kimco Realty Corp has a 52-week low of $16.34 and a 52-week high of $22.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.72 and a current ratio of 2.72. The firm has a market capitalization of $12.41 billion, a PE ratio of 28.20, a PEG ratio of 2.63 and a beta of 1.47.
About Kimco Realty
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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