Cornercap Investment Counsel Inc. Lowers Stake in Kimco Realty Corp (NYSE:KIM)

Cornercap Investment Counsel Inc. reduced its holdings in shares of Kimco Realty Corp (NYSE:KIM) by 3.8% in the fourth quarter, HoldingsChannel reports. The fund owned 28,015 shares of the real estate investment trust’s stock after selling 1,118 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Kimco Realty were worth $597,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of KIM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Kimco Realty by 6.6% during 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. purchased a new position in Kimco Realty during the 1st quarter valued at about $557,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Kimco Realty during the 1st quarter valued at about $2,351,000. National Pension Service purchased a new position in Kimco Realty during the 1st quarter valued at about $22,589,000. Finally, Vanguard Group Inc. lifted its position in Kimco Realty by 3.2% during 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 acquiring an additional 3,081,151 shares during the period. 89.25% of the stock is owned by hedge funds and other institutional investors.

Kimco Realty Stock Performance

Shares of KIM stock opened at $17.61 on Wednesday. The company has a 50 day moving average price of $19.24 and a 200-day moving average price of $19.33. Kimco Realty Corp has a 52 week low of $16.34 and a 52 week high of $22.83. The firm has a market capitalization of $11.87 billion, a PE ratio of 17.26, a P/E/G ratio of 4.07 and a beta of 1.45. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 0.79.

Kimco Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.45%. Kimco Realty’s dividend payout ratio is presently 94.12%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 4th. Bank of America reaffirmed a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Kimco Realty in a report on Friday, April 5th. Citigroup reaffirmed a “neutral” rating and issued a $20.00 target price (down from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Piper Sandler lifted their target price on shares of Kimco Realty from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Kimco Realty in a report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.67.

Insider Transactions at Kimco Realty

In other news, Director Frank Lourenso sold 8,890 shares of Kimco Realty stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total value of $172,643.80. Following the completion of the sale, the director now directly owns 203,534 shares in the company, valued at $3,952,630.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.

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.