7,054,228 Shares in Kimco Realty Corp (NYSE:KIM) Acquired by Norges Bank

Norges Bank bought a new stake in shares of Kimco Realty Corp (NYSE:KIM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,054,228 shares of the real estate investment trust’s stock, valued at approximately $150,326,000. Norges Bank owned approximately 1.14% of Kimco Realty at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KIM. Kentucky Retirement Systems lifted its stake in shares of Kimco Realty by 1.3% during the 4th quarter. Kentucky Retirement Systems now owns 49,597 shares of the real estate investment trust’s stock worth $1,057,000 after purchasing an additional 631 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Kimco Realty by 17.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,833 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 717 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Kimco Realty by 46.6% in the 3rd quarter. Allworth Financial LP now owns 2,600 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 827 shares in the last quarter. Schulhoff & Co. Inc. boosted its holdings in shares of Kimco Realty by 7.1% in the 3rd quarter. Schulhoff & Co. Inc. now owns 15,053 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 1,000 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Kimco Realty by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 273,495 shares of the real estate investment trust’s stock worth $4,811,000 after buying an additional 1,020 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Down 2.3 %

NYSE:KIM opened at $18.57 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.86 and a quick ratio of 1.86. The company’s fifty day moving average price is $18.79 and its 200-day moving average price is $19.60. Kimco Realty Corp has a 1-year low of $16.34 and a 1-year high of $22.83. The firm has a market capitalization of $12.52 billion, a P/E ratio of 35.04, a PEG ratio of 3.68 and a beta of 1.46.

Kimco Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.17%. Kimco Realty’s payout ratio is currently 181.14%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KIM. Mizuho lowered their target price on shares of Kimco Realty from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial reduced their target price on Kimco Realty from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday. Robert W. Baird lowered their price target on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Kimco Realty in a research note on Tuesday, January 30th. They set a “hold” rating and a $23.00 price target on the stock. Finally, Citigroup reiterated a “neutral” rating and issued a $20.00 target price (down from $26.00) on shares of Kimco Realty in a research note on Friday, March 22nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.52.

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.