New York Life Investment Management LLC Has $3.57 Million Stock Position in Kimco Realty Corp (NYSE:KIM)

New York Life Investment Management LLC raised its position in Kimco Realty Corp (NYSE:KIM) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 167,489 shares of the real estate investment trust’s stock after buying an additional 9,311 shares during the period. New York Life Investment Management LLC’s holdings in Kimco Realty were worth $3,569,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KIM. Vanguard Group Inc. lifted its stake in Kimco Realty by 0.3% in the third quarter. Vanguard Group Inc. now owns 101,457,899 shares of the real estate investment trust’s stock valued at $1,784,644,000 after buying an additional 344,562 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kimco Realty by 23.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust’s stock worth $547,401,000 after acquiring an additional 5,894,446 shares during the last quarter. Invesco Ltd. raised its position in shares of Kimco Realty by 31.2% in the third quarter. Invesco Ltd. now owns 18,467,735 shares of the real estate investment trust’s stock valued at $324,847,000 after purchasing an additional 4,393,084 shares during the period. FMR LLC lifted its position in Kimco Realty by 17.5% during the third quarter. FMR LLC now owns 13,862,740 shares of the real estate investment trust’s stock worth $243,846,000 after acquiring an additional 2,061,517 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Kimco Realty by 1.6% during the 3rd quarter. Northern Trust Corp now owns 8,563,903 shares of the real estate investment trust’s stock worth $150,639,000 after purchasing an additional 136,811 shares during the last quarter. 89.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KIM shares. Citigroup reissued a “neutral” rating and set a $20.00 target price (down from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Kimco Realty in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price for the company. Robert W. Baird reduced their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Bank of America restated a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Finally, Mizuho decreased their price target on Kimco Realty from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kimco Realty presently has an average rating of “Hold” and a consensus price target of $21.48.

Kimco Realty Stock Performance

Kimco Realty stock opened at $19.10 on Friday. The business has a 50 day moving average of $18.90 and a 200-day moving average of $19.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 5.05. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $22.83. The company has a market capitalization of $12.88 billion, a P/E ratio of 36.04, a P/E/G ratio of 4.33 and a beta of 1.46.

Kimco Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, June 6th. Kimco Realty’s payout ratio is currently 181.14%.

Insider Transactions at Kimco Realty

In other Kimco Realty news, Director Frank Lourenso sold 8,890 shares of Kimco Realty stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $19.42, for a total transaction of $172,643.80. Following the transaction, the director now directly owns 203,534 shares of the company’s stock, valued at approximately $3,952,630.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by company insiders.

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.