Private Management Group Inc. Decreases Stake in Kimco Realty Corp (NYSE:KIM)

Private Management Group Inc. cut its holdings in Kimco Realty Corp (NYSE:KIM) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,525 shares of the real estate investment trust’s stock after selling 5,450 shares during the quarter. Private Management Group Inc.’s holdings in Kimco Realty were worth $650,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of KIM. Allworth Financial LP boosted its position in Kimco Realty by 46.6% during the third quarter. Allworth Financial LP now owns 2,600 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 827 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Kimco Realty by 4.4% in the third quarter. Inspire Investing LLC now owns 20,767 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 868 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Kimco Realty by 1.0% in the third quarter. CIBC Asset Management Inc now owns 88,617 shares of the real estate investment trust’s stock worth $1,559,000 after acquiring an additional 869 shares during the last quarter. Citizens National Bank Trust Department raised its holdings in shares of Kimco Realty by 4.1% in the third quarter. Citizens National Bank Trust Department now owns 23,036 shares of the real estate investment trust’s stock worth $405,000 after acquiring an additional 899 shares during the last quarter. Finally, Schulhoff & Co. Inc. raised its holdings in shares of Kimco Realty by 7.1% in the third quarter. Schulhoff & Co. Inc. now owns 15,053 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 1,000 shares during the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.

Kimco Realty Stock Down 0.5 %

KIM traded down $0.10 on Wednesday, reaching $18.53. The company’s stock had a trading volume of 3,563,152 shares, compared to its average volume of 5,556,100. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 4.19 and a beta of 1.45. Kimco Realty Corp has a 1 year low of $16.34 and a 1 year high of $22.83. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.05 and a quick ratio of 5.05. The business’s 50 day moving average is $19.06 and its 200 day moving average is $19.38.

Kimco Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date was Wednesday, March 6th. Kimco Realty’s dividend payout ratio is currently 94.12%.

Analyst Upgrades and Downgrades

KIM has been the subject of a number of analyst reports. Mizuho cut their price target on Kimco Realty from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Citigroup reissued a “neutral” rating and issued a $20.00 price target (down from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Bank of America reiterated a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Kimco Realty in a research note on Friday, April 5th. Robert W. Baird dropped their target price on Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 4th. Finally, 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 price target for the company. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.67.

Insider Buying and Selling at Kimco Realty

In other Kimco Realty news, Director Frank Lourenso sold 8,890 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.42, for a total transaction of $172,643.80. Following the sale, the director now owns 203,534 shares in the company, valued at $3,952,630.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is currently 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.